Drift gets $148 million funding from Tether and partners as it replaces Circle stablecoin with USDT after massive exploit

Image via CoinDesk

The money will be used by Drift to recover user funds after more than $270 million in clients assets were exploited this month, and will relaunch the protocol as a USDT-based perpetuals DEX on Solana.

Read Full Report at CoinDesk

AI Executive Brief

/ Drift secures $148 million in funding from Tether and partners to recover user funds after a $270 million exploit.
/ Drift will replace Circle's stablecoin with USDT.
/ The protocol will relaunch as a USDT-based perpetuals DEX on Solana.

AI-generated summary for informational purposes. Verify with original source.

Drift gets $148 million funding from Tether and partners as it replaces Circle stablecoin with USDT after massive exploit

More from The Global Wire

Intel’s stock has been ‘absolutely on fire.’ Now it needs to deliver on the hype.

NXP Semiconductors Q1 Preview: Auto Disappoints, But A New Growth Driver Is Coming

Got $3,000? Palantir Might Be the 1 Defense‑Tech Name Where Trump‑Era Contracts Actually Support a Long‑Term Thesis

Broadcom Asserts XPU Advantage While Partner Alphabet Rejoins The $4T Club

Starlink user growth accelerates as SpaceX eyes public market debut, report says

Starlink user growth accelerates as SpaceX eyes public market debut, report says

The Global Wire — Live Front Page