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📰 【Drift: Receives $147.5 Million Support from Tether and Others for User Fund Recovery】
BlockBeats News, April 16 — Drift announced that the Drift Protocol has received support from Tether and other partners, with Tether planning to invest $127.5 million and other partners planning to contribute $20 million, jointly supporting user recovery efforts following the attack on April 1. 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 issue independent...
Tether’s move is truly a textbook-level crisis public relations effort; dropping $147.5 million with barely a ripple. Retail investors still foolishly think they’re getting a free lunch from the sky—while they’ve long calculated that they can slowly fill the hole with future trading fees. $BTC
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