Drift Protocol Partners with Tether for $148 Million Recovery Plan After DeFi Exploit
Drift Protocol has partnered with Tether to secure $148 million in funding for its recovery plan following a $285 million DeFi exploit. The exchange will replace Circle's USDC with Tether's USDT as its primary stablecoin and is distributing tokens representing claims on the recovery pool to affected users. The move comes after criticism of Circle for not freezing funds during the exploit.
Topics: DeFi Drift Protocol Recovery Plan Stablecoins Tether USDC USDT