USDT

“🚨Everything you need to know about @DriftProtocol incident recovery - Recovery plan is led by @Tether with support from @SolanaFndn, with ~$147M secured (~$127.5M Tether + ~$20M partners) - At relaunch, Drift Protocol will migrate from $USDC to $USDT as its settlement layer - Recovery includes a $100M revenue-linked credit facility tied to future exchange revenue, designed to address ~$295M in user losses over time rather than immediate full repayment - Remaining support includes grants + liquidity/market-making backing, not all direct payouts - Tether will also provide a USDT market-making facility via designated market makers - Drift is targeting full user recovery, combining capital + future revenue - A dedicated recovery pool is being set up for affected users - A structured, loss-based payout framework is being finalized (likely phased distribution) - Protocol revenue + any recovered funds will be used to close remaining gaps - Platform will relaunch only after a full security overhaul, audits, and new risk controls”