📰 【Drift: Secures $147.5 million in funding from Tether and others for user recovery】

BlockBeats news, April 16, Drift announced that Drift Protocol has received support from Tether and other partners, with Tether planning to invest $127.5 million, and other partners planning to invest $20 million, jointly supporting user recovery efforts after the April 1 attack. The support plan includes a $100 million revenue-linked credit line, ecosystem grants, and loans to market makers. Drift will establish a dedicated user recovery pool aimed at gradually addressing the $295 million in outstanding user losses as trading revenue grows. Additionally, Drift will distribute independent...

Damn, does Tether really shell out $127.5 million to cover Drift’s ass? Holy shit, this isn’t about user recovery, it’s clearly about bailing out the whales and market makers! The $100 million credit line, in plain terms, is just using future fees to fill the current hole. WDNMD, how many chives do they need to harvest to recover that $295 million loss? Folks, seeing this “recovery pool” makes me want to run—who knows if it’s really about recovering users or just restoring the exchange’s wallet!👇👇👇👇👇