coin-img-ETHETH+0.07%coin-img-BTCBTC+1.05%coin-img-SOLSOL+2.90%coin-img-XRPXRP+4.24%coin-img-TOMTOM+1,236.73%coin-img-BENZBENZ+141.45%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+4.15%coin-img-ETHETH+0.07%coin-img-BTCBTC+1.05%coin-img-SOLSOL+2.90%coin-img-XRPXRP+4.24%coin-img-TOMTOM+1,236.73%coin-img-BENZBENZ+141.45%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+4.15%coin-img-ETHETH+0.07%coin-img-BTCBTC+1.05%coin-img-SOLSOL+2.90%coin-img-XRPXRP+4.24%coin-img-TOMTOM+1,236.73%coin-img-BENZBENZ+141.45%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+4.15%coin-img-ETHETH+0.07%coin-img-BTCBTC+1.05%coin-img-SOLSOL+2.90%coin-img-XRPXRP+4.24%coin-img-TOMTOM+1,236.73%coin-img-BENZBENZ+141.45%coin-img-USDCUSDC-0.01%coin-img-DOGEDOGE+4.15%

Tether and Solana Foundation back up to $147.5M recovery package for Drift ahead of Solana relaunch

Tether, working with the Solana Foundation, is leading a recovery package of up to $147.5 million to support Drift as the protocol prepares to relaunch on Solana. Under the plan, $USDT will replace $USDC as the core settlement layer. The funding is intended to support affected users following a $270 million exploit. The package combines a revenue-linked credit line, grants and liquidity support. Drift will also direct trading revenue into a recovery pool aimed at covering roughly $295 million in losses, with part of future revenue earmarked for repayments.
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USDC-0.01%
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SOL+3.30%
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