Drift Taps Tether for $148 Million Recovery Plan, Ditches Circle's USDC Following DeFi Exploit

Drift Taps Tether for $148 Million Recovery Plan, Ditches Circle's USDC Following DeFi Exploit

Drift Taps Tether for $148 Million Recovery Plan, Ditches Circle's USDC Following DeFi Exploit Price data byDecryptNewsDeFiDrift Taps Tether for $148 Million Recovery Plan, Ditches Circle's USDC Following DeFi ExploitCircle has faced pushback online for standing pat as actors used its cross-chain protocol to move stolen funds.By André BeganskiEdited by Andrew HaywardApr 16, 2026Apr 16, 20263 min readTether CEO Paolo Ardonio. Image: Tether/DecryptCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief Drift Protocol is working with Tether on establishing a recovery pool for victims that lost $295 million to an exploit this month. Drift indicated that its moving away from Circle’s USDC after the stablecoin issuer’s cross-chain protocol was used to move stolen funds. The Treasury Department has urged Congress to

Source: https://decrypt.co/364589/drift-tether-148-million-recovery-plan-ditches-circle-usdc