Drift lines up up to $127 million from Tether for user reimbursements, switches from Circle's USDC to USDT after $280 million exploit

Drift said it has secured a financing arrangement of up to $127 million from Tether to support user recovery efforts following a $280 million exploit. The platform also plans to move away from Circle's USDC in favor of USDT as it works to restore normal operations and strengthen its post-incident setup.