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Finance
Drift Secures $148 Million in Funding to Recover from Exploit and Transition to USDT
Following a significant exploit that resulted in the loss of over $270 million in client assets, Drift Protocol has announced plans to relaunch with Tether's USDT as its settlement layer, facilitated by a proposed funding package of up to $147.5 million from Tether and its partners. The package, which includes a revenue-linked credit facility, ecosystem grants, and loans to market makers, aims to…
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding to Recover from Exploit and Transition to USDT
Following a significant exploit that resulted in the loss of over $270 million in client assets, Drift Protocol has announced plans to relaunch with Tether's USDT as its new settlement layer, thanks to a substantial funding package of up to $147.5 million from Tether and its partners. The deal comprises $127.5 million from Tether and $20 million from other partners, aiming to support user recover…
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding from Tether and Partners to Recover from Exploit
Drift Protocol, recently victimized by a North Korean exploit, has announced plans to relaunch with Tether's USDT as its primary settlement layer after securing a substantial funding package of up to $147.5 million. This investment, comprising $127.5 million from Tether and $20 million from additional partners, aims to facilitate user recovery from the April 1 exploit, which resulted in the loss …
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding from Tether and Partners to Recover from Exploit
Following a recent exploit that resulted in the loss of over $270 million in client assets, Drift Protocol has announced plans to relaunch with Tether's USDT as its settlement layer, backed by a proposed funding package of up to $147.5 million from Tether and its partners. The deal comprises up to $127.5 million from Tether and $20 million from other partners, structured as a revenue-linked credi…
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding to Recover from Exploit and Transition to USDT
Following a significant exploit that resulted in the loss of over $270 million in client assets, Drift Protocol has announced plans to relaunch using Tether's USDT as its primary settlement layer, thanks to a $147.5 million funding package from Tether and its partners. The funding is structured to support user recovery and reboot the platform as a USDT-based perpetual futures exchange on Solana, …
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding to Recover from Exploit and Transition to USDT
Following a significant exploit that resulted in the loss of over $270 million in client assets, Drift Protocol has announced plans to relaunch with Tether's USDT as its new settlement layer, backed by a funding package of up to $147.5 million from Tether and its partners. The package, which includes a revenue-linked credit facility, ecosystem grants, and loans to market makers, aims to support u…
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding to Recover from Exploit and Transition to USDT
Following a significant exploit that resulted in the loss of over $270 million in client assets, Drift Protocol has announced a funding package of up to $147.5 million from Tether and its partners. The investment will be used to recover user funds and relaunch the protocol as a USDT-based perpetual futures exchange on Solana, replacing Circle's USDC as its settlement layer. The funding package, w…
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding from Tether and Partners to Recover from Exploit
Following a significant exploit that resulted in the loss of over $270 million in client assets, Drift Protocol has announced a funding package of up to $147.5 million from Tether and its partners. This investment will facilitate the recovery of user funds and the relaunch of the platform as a USDT-based perpetual futures exchange on Solana, replacing Circle's USDC as its settlement layer. The fu…
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding to Recover from Exploit and Transition to USDT
Following a significant exploit that resulted in the loss of over $270 million in user assets, Drift Protocol has announced plans to relaunch with Tether's USDT as its primary settlement layer, backed by a substantial funding package of up to $147.5 million from Tether and its partners. This deal comprises $127.5 million from Tether and $20 million from other partners, aiming to facilitate user r…
April 16, 2026, 1 p.m.
Finance
Drift Secures $148 Million in Funding from Tether and Partners Amidst Circle Stablecoin Swap for USDT Following Significant Exploit
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April 16, 2026, 1 p.m.