"Tether has used its hundreds of billions in assets to become many things, including social media investors, data center lenders, and one of the largest holders of U.S. T-bills."
"The hackers, thought to be working on behalf of the DPRK, approached Drift team members at a cryptocurrency conference in late 2025 and pretended to be from a trading firm."
"Following the breach, many Drift customers have been pointing their fingers at Circle, claiming the firm saw the hack taking place, but failed to freeze the USDC."
Tether has diversified its assets significantly, becoming a major player in various sectors, including lending and investment. Recently, Tether stepped in as a lender of last resort for Drift, a Solana-based derivatives exchange that suffered a $285 million hack. Tether's $127.5 million funding will help stabilize Drift, which plans to contribute its own revenue to recover losses. This move has garnered positive attention from the crypto community, particularly among Solana users, while potentially impacting Tether's competitor, Circle, which has faced criticism regarding its response to the hack.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]