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LONGBOAT KEY, Fla, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Rumble ( NASDAQ:RUM ), the video-sharing platform and cloud services provider, announced today that its Board of Directors has approved a corporate treasury diversification strategy of allocating a portion of the company's excess cash reserves to Bitcoin. This move emphasizes Rumble's belief in Bitcoin as a valuable tool for strategic planning and is designed to accelerate the company's expansion into cryptocurrency. Rumble's Bitcoin allocation strategy will include purchases, at the discretion of the company, of up to $20 million. "We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly U.S. presidential administration and increased institutional adoption. Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury,” said Rumble Chairman and CEO Chris Pavlovski. "We are also excited to strengthen our ties with crypto and to bolster our efforts to become the leading video and cloud services platform for the crypto community,” Pavlovski added. The actual timing and value of Bitcoin purchases, if any, under the allocation strategy will be determined by management in its discretion and will depend on several factors, including, among others, general market and business conditions, the trading price of Bitcoin and the anticipated cash needs of Rumble. The allocation strategy may be suspended, discontinued or modified at any time for any reason. ABOUT RUMBLE Rumble is a high-growth video platform and cloud services provider that is creating an independent infrastructure. Rumble's mission is to restore the internet to its roots by making it free and open once again. For more information, visit: corp.rumble.com . Contact: [email protected] Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not historical facts are forward-looking statements and include, for example, statements regarding our new corporate treasury diversification strategy of allocating a portion of the company's excess cash reserves to Bitcoin and the acceleration of our expansion into cryptocurrency. Certain of these forward-looking statements can be identified by using words such as "anticipates,” "believes,” "intends,” "estimates,” "targets,” "expects,” "endeavors,” "forecasts,” "well underway,” "could,” "will,” "may,” "future,” "likely,” "on track to deliver,” "on a trajectory,” "continues to,” "looks forward to,” "is primed to,” "plans,” "projects,” "assumes,” "should” or other similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, and our actual results could differ materially from future results expressed or implied in these forward-looking statements. The forward-looking statements included in this release are based on our current beliefs and expectations of our management as of the date of this release. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include risks inherent with investing in Bitcoin, including Bitcoin's volatility; the risks of implementing a new treasury diversification strategy; our ability to grow and manage future growth profitably over time, maintain relationships with customers, compete within our industry and retain key employees; the possibility that we may be adversely impacted by economic, business, and/or competitive factors; our limited operating history makes it difficult to evaluate our business and prospects; our recent and rapid growth may not be indicative of future performance; we may not continue to grow or maintain our active user base, and may not be able to achieve or maintain profitability; risks relating to our ability to attract new advertisers, or the potential loss of existing advertisers or the reduction of or failure by existing advertisers to maintain or increase their advertising budgets; Rumble Cloud, our recently launched cloud services business, may not achieve success and, as a result, our business, financial condition and results of operations could be adversely affected; negative media campaigns may adversely impact our financial performance, results of operations, and relationships with our business partners, including content creators and advertisers; spam activity, including inauthentic and fraudulent user activity, if undetected, may contribute, from time to time, to some amount of overstatement of our performance indicators; we collect, store, and process large amounts of user video content and personal information of our users and subscribers and, if our security measures are breached, our sites and applications may be perceived as not being secure, traffic and advertisers may curtail or stop viewing our content or using our services, our business and operating results could be harmed, and we could face governmental investigations and legal claims from users and subscribers; we may fail to comply with applicable privacy laws; we are subject to cybersecurity risks and interruptions or failures in our information technology systems and, notwithstanding our efforts to enhance our protection from such risks, a cyber incident could occur and result in information theft, data corruption, operational disruption and/or financial loss; we may be found to have infringed on the intellectual property of others, which could expose us to substantial losses or restrict our operations; we may face liability for hosting a variety of tortious or unlawful materials uploaded by third parties, notwithstanding the liability protections of Section 230 of the Communications Decency Act of 1996; we may face negative publicity for removing, or declining to remove, certain content, regardless of whether such content violated any law; paid endorsements by our content creators may expose us to regulatory risk, liability, and compliance costs, and, as a result, may adversely affect our business, financial condition and results of operations; our traffic growth, engagement, and monetization depend upon effective operation within and compatibility with operating systems, networks, devices, web browsers and standards, including mobile operating systems, networks, and standards that we do not control; our business depends on continued and unimpeded access to our content and services on the internet and, if we or those who engage with our content experience disruptions in internet service, or if internet service providers are able to block, degrade or charge for access to our content and services, we could incur additional expenses and the loss of traffic and advertisers; we face significant market competition, and if we are unable to compete effectively with our competitors for traffic and advertising spend, our business and operating results could be harmed; we rely on data from third parties to calculate certain of our performance metrics and real or perceived inaccuracies in such metrics may harm our reputation and negatively affect our business; changes to our existing content and services could fail to attract traffic and advertisers or fail to generate revenue; we derive the majority of our revenue from advertising and the failure to attract new advertisers, the loss of existing advertisers, or the reduction of or failure by existing advertisers to maintain or increase their advertising budgets would adversely affect our business; we depend on third-party vendors, including internet service providers, advertising networks, and data centers, to provide core services; hosting and delivery costs may increase unexpectedly; we have offered and intend to continue to offer incentives, including economic incentives, to content creators to join our platform, and these arrangements may involve fixed payment obligations that are not contingent on actual revenue or performance metrics generated by the applicable content creator but rather are based on our modeled financial projections for that creator, which if not satisfied may adversely impact our financial performance, results of operations and liquidity; we may be unable to develop or maintain effective internal controls; potential diversion of management's attention and consumption of resources as a result of acquisitions of other companies and success in integrating and otherwise achieving the benefits of recent and potential acquisitions; we may fail to maintain adequate operational and financial resources or raise additional capital or generate sufficient cash flows; changes in tax rates, changes in tax treatment of companies engaged in e-commerce, the adoption of new tax legislation, or exposure to additional tax liabilities may adversely impact our financial results; compliance obligations imposed by new privacy laws, laws regulating social media platforms and online speech in certain jurisdictions in which we operate, or industry practices may adversely affect our business; and those additional risks, uncertainties and factors described in more detail under the caption "Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023, and in our other filings with the Securities and Exchange Commission. We do not intend, and, except as required by law, we undertake no obligation, to update any of our forward-looking statements after the issuance of this release to reflect any future events or circumstances. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Rumble on Social Media Investors and others should note that we announce material financial and operational information to our investors using our investor relations website ( investors.rumble.com ), press releases, SEC filings and public conference calls and webcasts. We also intend to use certain social media accounts as a means of disclosing information about us and our services and for complying with our disclosure obligations under Regulation FD: the @rumblevideo X (formerly Twitter) account ( x.com/rumblevideo ), the @gamingonrumble X (formerly Twitter) account ( x.com/gamingonrumble ), the @rumble TRUTH Social account ( truthsocial.com/@rumble ), the @chrispavlovski X (formerly Twitter) account ( x.com/chrispavlovski ), and the @chris TRUTH Social account (truthsocial.com/@chris), which Chris Pavlovski, our Chairman and Chief Executive Officer, also uses as a means for personal communications and observations. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our investor relations website.
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On Sunday, the Los Angeles Lakers finalized a deal that sent guard D’Angelo Russell to the Brooklyn Nets. Together with Russell, the Lakers sent Maxwell Lewis and three second-round picks to the Nets for Dorian Finney-Smith and Shake Milton, according to ESPN’s Shams Charania. The 2024-25 NBA season has not been kind to Russell . He started the campaign as the Lakers’ starting point guard for the first eight games. However, first-year head coach JJ Redick adjusted the lineup and put the 6-foot-4 guard as the lead guard for the second unit. The move benefitted the team as they went on to win six straight games. However, it affected Russell’s performance and his numbers started to decline. With his diminishing role, a change was needed. This led the Lakers’ front office to send him back to the Nets, the same team the organization sent Russell in 2017. Ahead of his second chance to play in Brooklyn, NBA Insider Dan Woike reported that the guard is “excited” to return to the Nets. “He’s excited for a new opportunity, obviously saw his role diminishing with Lakers,” Woike posted on Bluesky. Report: D’Angelo Russell saw his role diminishing with Lakers, is ‘excited’ for new opportunity with Nets https://t.co/BFxdBwGzIP — Legion Hoops (@LegionHoops) December 29, 2024 Russell played 29 games for the Lakers this season, averaging 12.4 points, 2.8 rebounds and 4.7 assists. The 2015-16 All-Rookie’s average of 26 minutes this season is the lowest since the Lakers signed him in the 2022–2023 campaign. How good was D’Angelo Russell during his first stint with the Nets? D’Angelo Russell spent two seasons with the Nets during his third and fourth seasons in the league. While the team didn’t have much success, it helped Russell’s career as he turned into an All-Star guard. In his first season in Brooklyn, the point guard took some time to adjust to the system as he averaged 15.5 points, 3.9 rebounds and 5.2 assists. His second year in Brooklyn was better as he averaged 20 points for the first time. Russell averaged 21.1 points, 3.9 rebounds and 7.0 assists while shooting 36.9% from downtown. The point guard was the only player who had at least 20 points. During his time with the Nets, Russell was surrounded by borderline All-Stars in Spencer Dinwiddie, Joe Harris and Caris LeVert. The team made it to the postseason but only lasted in the first round as they couldn’t beat the Philadelphia 76ers. This time around, Russell will be welcomed to the Nets in the same situation where there isn’t a clear-cut All-Star on the roster. However, he’ll play with some of the top young stars Cam Thomas and Cam Johnson. That is if they don’t get traded this season. This article first appeared on Hardwood Heroics and was syndicated with permission.
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Tweet Facebook Mail Scuffles and fistfights broke out between ruling party and opposition lawmakers in Serbia's parliament overnight, weeks after a deadly rail station roof collapse that ignited tensions in the Balkan state. The opposition wanted to discuss who is responsible for the crash that killed 15 people in the northern city of Novi Sad on November 1, while governing officials, who have a majority in Serbia's legislature, sought to adopt a bill on next year's state budget. The opposition displayed a banner showing a red hand print reading "blood is on your hands". The ruling party responded with a banner accusing the opposition of wanting "war while Serbia wants to work". READ MORE: Special counsel Jack Smith drops election subversion case against Donald Trump A fight broke out in Serbia's parliament amid a heated debate. (AP) Scuffles erupted when the two sides tried to grab each other's banner. The rail station, a major hub, was recently renovated as part of a Serbian-Chinese partnership. Critics allege that corruption, poor oversight and inadequate construction work contributed to the tragedy. The collapse has fueled widespread anger toward the government and protests, becoming a flashpoint for broader dissatisfaction with Serbia's authoritarian rule. There are growing public demands for transparency while the country undertakes large infrastructure projects, mostly with Chinese state companies. READ MORE: Tourist yacht sinks in high waves, 17 people missing The opposition accused the government of having blood on their hands. (AP) Serbia's parliament speaker Ana Brnabic yesterday accused the opposition of wanting to come to power by force with help from outside. "There is not a hint, not a grain of doubt, that these are people who are well organised, who were trained quite well, I believe paid well, to create chaos in Serbia and destabilise our country," she said. Serbia's autocratic President Aleksandar Vucic said on Instagram that the "daily bullying" and "the savage behaviour" of the opposition would not be tolerated. READ MORE: Judge delays sentencing decision for killer Menendez brothers "I want to reassure the citizens and tell them that we will respond to their rudeness, rudeness and arrogance with even more work in the future." he said. "Today they tried to prevent pensioners from receiving their increased pensions, public sector employees from their increased salaries. They won't succeed." Opposition leader Dragan Djilas said the speaker had "shut down" the parliament by refusing to allow a debate on who's responsible for the tragedy. "She started with that when she refused to put on the agenda the request of more than 80 members of the opposition for a debate on confidence in the government because of the murder and crime in Novi Sad," Djilas said. DOWNLOAD THE 9NEWS APP : Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play .So, is fighting Nazis in "Indiana Jones: The Ancient Ring" fun? For many players, the answer is a resounding yes. It offers a chance to step into the shoes of a legendary hero, experience thrilling action and adventure, and engage with history in a unique and entertaining way. And with its popularity on Steam, it's clear that the allure of being an adventurer like Indiana Jones and taking on the forces of evil remains as strong as ever.
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