Tether uses $127M Drift rescue to challenge Circle’s grip on Solana payments
CryptoSlate
Tether is providing a $127 million rescue package to Drift Protocol, requiring the platform to shift its settlement layer from USDC to USDT.Summary
Tether has injected $127 million into the Solana-based Drift Protocol following a major exploit, leveraging the rescue to mandate a shift from Circle’s USDC to Tether's USDT. This strategic move aims to challenge Circle’s dominance on the Solana blockchain by capturing a significant user base and payment volume. Analysts suggest this reflects a broader trend where users prioritize platforms that offer proactive asset protection, as Tether positions itself as an aggressive participant in network security while simultaneously pursuing increased institutional transparency.
(Source：CryptoSlate)