[Form 4] Rumble Inc. Insider Trading Activity

Rhea-AI Filing Summary

Rumble Inc. (RUM) director and 10% owner Giancarlo Devasini reported open-market purchases of Class A common stock through Tether Investments, S.A. de C.V. On 11/19/2025, Tether Investments bought 353,192 shares at $5.4531 per share, followed by 440,000 shares at $5.3847 on 11/20/2025, and 270,478 shares at $5.4611 on 11/21/2025.

Across these three transactions, a total of 1,063,670 Class A shares were acquired, bringing the amount of Class A common stock beneficially owned indirectly through Tether Investments to 104,397,003 shares. The filing explains that Tether Investments is a wholly owned subsidiary of Tether Holdings, S.A. de C.V., and that Mr. Devasini, through his voting interest in Tether Holdings, may be deemed to beneficially own these shares, while each entity disclaims beneficial ownership except to the extent of any pecuniary interest.

Insights

Equity Ownership and Governance Analyst

Large affiliated holder increased indirect stake in Rumble Inc. through open-market purchases across three days, indicating higher ownership alignment with the issuer.

This Form 4 reports that **Tether Investments, S.A. de C.V.** acquired Class A Common Stock of **Rumble Inc.** on three consecutive days: 11/19/2025, 11/20/2025, and 11/21/2025. The reported transactions are coded "P" (purchase) and total 1,063,670 shares at per-share prices of about $5.4531, $5.3847, and $5.4611, respectively. Following these trades, Tether Investments is shown as indirectly holding 104,397,003 Class A shares. The filing identifies the ownership as indirect, with Tether Investments as a wholly owned subsidiary of **Tether Holdings, S.A. de C.V.**.

The explanation clarifies that **Giancarlo Devasini** holds a greater than 50% voting interest in Tether Holdings, S.A. de C.V., and therefore may be deemed to share voting and dispositive power over these shares. Each of Tether Holdings and Mr. Devasini disclaims beneficial ownership beyond any actual economic interest. This structure means control of the reported stake flows through Tether Holdings to its wholly owned subsidiary, while keeping legal ownership at the subsidiary level.

The net effect of these reported transactions is an increase in the indirect Class A ownership tied to Tether Investments and, by attribution, to Tether Holdings and Mr. Devasini as a director of Rumble Inc. The filing shows only purchases and no sales during this period, which is generally viewed as more favorable than the opposite pattern. A concrete figure to watch is the reported 104,397,003 shares beneficially owned after the 11/21/2025 transaction, as future Forms 4 will show whether this affiliated holding grows or shrinks over time.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Tether Holdings, S.A. de C.V.

(Last) (First) (Middle)

FINAL AV. LA REVOLUCION, EDIF. CENTRO

CORPORATIVO PRESIDENTE PLAZA, NIVEL 12

(Street)

SAN SALVADOR H3 00000

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Rumble Inc. [ RUM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock, par value $0.0001 per share	11/19/2025		P		353,192	A	$5.4531	103,686,525	I(1)	By Tether Investments, S.A. de C.V.
Class A Common Stock, par value $0.0001 per share	11/20/2025		P		440,000	A	$5.3847	104,126,525	I(1)	By Tether Investments, S.A. de C.V.
Class A Common Stock, par value $0.0001 per share	11/21/2025		P		270,478	A	$5.4611	104,397,003	I(1)	By Tether Investments, S.A. de C.V.

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Tether Holdings, S.A. de C.V.

(Last) (First) (Middle)

FINAL AV. LA REVOLUCION, EDIF. CENTRO

CORPORATIVO PRESIDENTE PLAZA, NIVEL 12

(Street)

SAN SALVADOR H3 00000

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Tether Investments, S.A. de C.V.

(Last) (First) (Middle)

FINAL AV. LA REVOLUCION, EDIF. CENTRO

CORPORATIVO PRESIDENTE PLAZA, NIVEL 12

(Street)

SAN SALVADOR H3 00000

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Devasini Giancarlo

(Last) (First) (Middle)

FINAL AV. LA REVOLUCION, EDIF. CENTRO

CORPORATIVO PRESIDENTE PLAZA, NIVEL 12

(Street)

SAN SALVADOR H3 00000

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The shares reported herein are directly owned by Tether Investments, S.A. de C.V., a wholly-owned subsidiary of Tether Holdings, S.A. de C.V. Mr. Devasini holds a greater than 50% voting interest in Tether Holdings, S.A. de C.V. and thus indirectly holds voting and dispositive power with respect to the securities held by Tether Holdings, S.A. de C.V., including securities held by Tether Investments, S.A. de C.V., its wholly-owned subsidiary. As such, each of Tether Holdings, S.A. de C.V. and Mr. Devasini may be deemed to have beneficial ownership of the shares directly held by the Tether Investments, S.A. de C.V. Each such entity or person disclaims beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

	/s/ Giancarlo Devasini, as Alternate President of Tether Holdings, S.A. de C.V.	11/21/2025
	/s/ Giancarlo Devasini, as Sole Administrator of Tether Investments, S.A. de C.V.	11/21/2025
	/s/ Giancarlo Devasini	11/21/2025
	** Signature of Reporting Person	Date
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