Insider Scoop: Tether’s $127.5M Lifeline to Drift Protocol After North Korean Heist!
In an update that reeks of urgency (and perhaps just a hint of panic), Drift announced on April 16 that they’ve teamed up with Tether and a few other partners to tackle the mountain of losses. Tether has graciously agreed to contribute up to $127.5 million, which is about as generous as giving someone a Band-Aid after they’ve lost a limb. Meanwhile, additional partners are throwing in a measly $20 million. The whole arrangement includes a $100 million revenue-linked credit facility, an ecosystem grant, and loans to market makers-because if you can’t fix it, you might as well lend some cash while you’re at it!
