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Photo: Tiffany Hagler-Geard/Bloomberg via Getty Images

Rumble, a user-generated video platform, agreed to go public at an implied $2.1 billion valuation via CF Acquisition Corp VI (Nasdaq: CFVI), a SPAC sponsored by Cantor Fitzgerald.

Why it matters: Rumble has become the favored YouTube alternative for Trump-type Republicans, claiming 36 million average monthly users in Q3 2021.

Details: The deal includes a $100 million PIPE and the ability for existing Rumble shareholders to earn additional stock based on price hurdles of $15 and $17.50. Toronto-based Rumble's VC backers include Peter Thiel, J.D. Vance's Narya and Colt Ventures.

Bonus: Trump's own social media SPAC deal is seeking up to $1 billion in PIPE financing, although it's been tough sledding, per Reuters.

The bottom line: Wall Street is cashing in on so-called "cancel culture."

Go deeper

Dan Primack, author of Pro Rata
Dec 16, 2021 - Politics & Policy

Trump SPAC deal leads to fraud lawsuit

Illustration: Aïda Amer/Axios

Private equity investor Brian Shevland is suing the CEO of the blank check company that it merging with former President Trump's social media platform, claiming a "brazen act of fraud."

Big picture: The lawsuit comes just a week after Digital World Acquisition Corp. (DWAC), led by Patrick Orlando, disclosed that it's under investigation by federal securities regulators. It also comes several months before Trump's company is slated to launch its first public products.

45 million Americans under winter storm watches near New England

Computer model projection showing the winds moving around the powerful East Coast storm on Saturday Jan. 29, 2022. Image: https://earth.nullschool.net

Nearly 45 million Americans are under winter weather alerts and warnings from North Carolina to northeastern Maine Thursday night, as a major winter storm threatens the region.

Why it matters: It is predicted to be the biggest blizzard since 2018 to strike the Northeast with more than 2 feet of snow possible in parts of eastern Massachusetts, according to the National Weather Service.

Judge nixes Gulf of Mexico oil leases in climate-focused ruling

Tug boats prepare to tow the semi-submersible drilling platform Noble Danny Adkins through the Port Aransas Channel into the Gulf of Mexico on December 12, 2020 in Port Aransas, Texas. Photo: Tom Pennington/Getty Images

A federal judge on Thursday canceled the Biden administration's late 2021 sale of new oil-and-gas drilling leases in the Gulf of Mexico.

Why it matters: The ruling that the greenhouse gas emissions analysis by the Interior's Bureau of Ocean Energy Management (BOEM) was insufficient is a win for green groups that challenged the decision, as they seek to curb fossil fuel production.