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📰 【Drift: Receives $147.5 million funding support 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. This 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 $295M in outstanding user losses as trading revenue grows. Additionally, Drift will distribute independent...
Damn it, Tether directly shelled out $127.5 million to cover Drift’s ass? Holy shit, this isn’t just user recovery, it’s clearly a warm blanket for the whales and market makers! The $100 million credit line, in plain terms, is using future fees to fill the current hole. How many chives will need to be cut to recover that $295M loss? Folks, seeing this “recovery pool” should make you run—who knows if it’s really about recovering users or just restoring the wallets of the big players! 👇👇👇👇👇