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Tether has committed up to $150 million to support Drift Protocol’s recovery following a major $285M exploit.
The funding will be used to compensate affected users, relaunch the platform, and provide liquidity, with a shift from USDC to USDT as the main settlement asset.
The move is seen as both a rescue effort and a strategic push to expand USDT’s dominance in DeFi amid growing competition with Circle.
#CryptoNews