Tether Steps In With $150 Million Plan to Aid Drift Recovery

1 day ago 3

Tether is backing a $150 million recovery plan for Drift Protocol after its recent exploit.
User payouts will be tied to platform revenue, ensuring gradual and performance-based recovery.
Drift will relaunch on Solana with USDT as its primary settlement asset.

Tether announced on April 16, 2026, a collaboration with Drift Protocol and the Solana Foundation to back a recovery plan worth up to $150 million. This comes after Drift’s exploit that took place on April 1st.

This exploit caused approximately $285 million in user losses. This contribution from Tether reaches up to $127.5 million and it will prioritize user restitution and a safe platform relaunch on Solana.

Tether Leads Support to the $150M Drift Recovery Plan, Stabilizes Relaunch as Drift Plans to Expand USD₮ Usage on Solana