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What to know:
Tether and other major Northern Data shareholders representing more than 70% of the stock committed to accepting the offer.
Longboat Key, Florida-based Rumble said it expected the all-share acquisition to be complete in the second quarter of next year. Investors in Frankfurt-based Northern Data will receive 2.0281 new Rumble shares for each NB2 share they own, and will end up with about 30% of the combined company.
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[Test C31-7469] GENIUS Act for Stablecoins Passes House on Way to Being First Major U.S. Crypto Law
[test dek] On the heels of its vote to pass its Clarity Act to oversee crypto markets, the House of Representatives followed up with a 308-122 approval of GENIUS.
What to know:
- The first major crypto regulatory initiative in the U.S. is about to become law after the House of Representatives passed the stablecoin bill known as the GENIUS Act.
- The approval came directly on the heels of another major legislative accomplishment for the industry, when the House also passed the Clarity Act that would govern the oversight of the digital assets markets in the U.S.
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