Drift Protocol has announced a collaboration with Tether (USDT) and other partners totaling nearly $150 million to fund user recovery and a protocol relaunch following its April 1 exploit on Solana (SOL).

The package includes a $100 million revenue-linked credit facility, an ecosystem grant, and loans to designated market makers. USDT will serve as the settlement asset when the protocol relaunches.

Recovery Pool and Token for Impacted Users

The funds, out of which $127.5 million is reportedly from Tether, will support a dedicated user recovery pool fed by exchange revenue and committed support capital.

Drift stated that any assets recovered through ongoing law enforcement and blockchain forensics efforts will also flow into the pool.

To distribute recovery assets, Drift will issue a new transferable token to users affected by the April 1 exploit. The team said additional details on token mechanics will follow in the near term.

The April 1 attack drained between $270 million and $285 million from Drift’s vaults.

Blockchain analytics firm Elliptic attributed the operation to North Korean state-linked actors who spent six months infiltrating the protocol’s inner circle.

Attackers posed as a quantitative trading firm, built trust at conferences, and compromised devices through a malicious TestFlight app and a VSCode vulnerability.

They then manipulated Drift’s multisig approvals using Solana’s durable nonces feature to drain core vaults holding USDC, SOL, and JLP tokens.

The incident slashed Drift’s total value locked from $550 million to roughly $230 million. The Drift (DRIFT) token dropped over 30% in the immediate aftermath. The protocol’s TVL was $243 million as of this writing.

Hardened Security and USDT-Centered Relaunch

Before relaunching, every protocol component will pass independent audits from OtterSec and Asymmetric Research.

Drift will also introduce a community-governed multisig for core protocol assets, requiring all signers to use dedicated devices with transaction content verified outside the primary signing interface.

Tether has proposed extending a USDT support facility to market makers to ensure deep liquidity from day one.

The shift to USDT settlement marks a notable pivot after Circle declined to freeze stolen USDC during the original attack.

Circle’s position on the matter is that it didn’t freeze stolen USDC because it can only act with legal orders, not on its own.

“When Circle freezes USDC, it is not because we have decided, unilaterally or arbitrarily, that someone’s assets should be taken from them. It is because the law requires us to act,” wrote Circle’s CSO Dante Disparte in a blog.

Tether’s involvement signals a growing willingness among stablecoin issuers to act as ecosystem backstops during major crises.

“The willingness of Paolo Ardoino Tether and our partners to commit real capital to Drift’s recovery says something about the strength of what we’ve built and what we’re building next, as well as our shared vision to scale the Solana DeFi ecosystem together,” said Cindy Leow, co-founder at Drift Protocol.

However, the partial recovery also highlights persistent vulnerabilities in operational security, even among mature protocols.

Drift described the plan as its first step toward making users whole over time.

The post Drift Protocol Lands $150 Million Lifeline in Aftermath of Exploit Shock appeared first on BeInCrypto.

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TLDR

• The Royal Government of Bhutan transferred 250 BTC worth about $18.47 million, within 24 hours.
• Bhutan has moved 3,247 BTC in 2026, with total outflows valued near $240.4 million at current prices.
• After the latest transfers, Bhutan holds about 3,524 BTC worth between $260 million and $264 million.
• Bitcoin climbed to an intraday high of $76,038 before easing toward the $74,000 range.
• Glassnode identified resistance between $74,000 and $76,000, while CryptoQuant placed key levels near $76,800.

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The Royal Government of Bhutan transferred about 250 BTC worth $18.47 million within 24 hours. Arkham data showed 162 BTC and 69.7 BTC moved to new wallet addresses in quick succession. The transactions came as Bitcoin traded above $74,000 and tested resistance levels.

Bhutan Extends Bitcoin Sales as Treasury Activity Continues

Arkham data confirmed that Bhutan shifted 162 BTC and 69.7 BTC to fresh addresses within hours. The transfers formed part of a wider reduction in publicly tracked holdings. Bhutan has moved 3,247 BTC in 2026, with total outflows valued near $240.4 million at current prices.

Other pricing periods placed the yearly sales closer to $198 million. After the latest transfers, Bhutan wallets hold about 3,524 BTC worth between $260 million and $264 million. Analysts linked earlier movements to wallets that later routed funds to Galaxy Digital and OKX.

Arkham reported that no Bitcoin inflow above $100,000 reached Bhutan-linked wallets in over a year. That data drew attention to possible shifts in mining operations or liquidity priorities. Bhutan originally built much of its reserve through hydropower-backed mining using surplus national energy.

On-chain records showed reduced inflows and continued outflows across tracked addresses. The pattern matched earlier sequences where funds moved in structured batches. However, blockchain data has not confirmed the final destination of the newest transfers.

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Bitcoin Price Tests Resistance as Market Metrics Shift

Bitcoin price climbed to an intraday high of $76,038 earlier this week before easing toward $74,000. Glassnode said the market is moving through a resistance band between $74,000 and $76,000. CryptoQuant identified $76,800 as the “Traders’ Realized Price” level.

CryptoQuant stated that holders who bought between $65,000 and $76,000 now sit in profit. The firm reported that large deposits rose from under 10% to above 40% of exchange inflows. The shift pointed to heavier activity from larger holders within days.

Daily realized profits reached about $500 million on Wednesday. However, that figure remained below the $1 billion level often seen near local tops. Market data showed Bitcoin trading in the mid-$74,000 range during the latest session.

Mining economics also shifted as prices recovered in recent days. The average all-in production cost stood near $79,500 per BTC as of mid-Wednesday. The gap between cost and spot price narrowed compared to previous months.

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The next network difficulty adjustment is scheduled for April 17. Forecasts projected a decline of nearly 3%, which would bring difficulty below 135 trillion hashes. Reports also showed the network hash rate fell 4% during the first quarter of 2026.

Some operators shut down older machines due to unprofitable conditions. Other miners redirected resources toward AI and high-performance computing services. The difficulty adjustment estimate remained the latest scheduled network update.

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A Chinese professor’s incendiary claim that Bitcoin was engineered by the CIA as a financial surveillance tool is resurfacing across crypto circles, just as BTC is fighting for a decisive breakout. Professor Jiang’s theory isn’t new, but its renewed traction in an era of spot ETF approvals and institutional accumulation carries a certain irony that even Bitcoin maximalists can’t fully dismiss.

Jiang’s core argument: Satoshi Nakamoto’s anonymity, the dollar-denominated pricing structure, and Bitcoin’s emergence post-2008 financial crisis were all engineered to serve U.S. geopolitical interests. According to Jiang, Bitcoin is giving Washington a mechanism to track global capital flows while maintaining plausible deniability.

For now, no credible evidence supports the claim, and the cypherpunk origins of Bitcoin are extensively documented. Still, the theory spreads precisely because Bitcoin’s creator remains unidentified. That’s a gap conspiracy narratives thrive in. Meanwhile, BTC has posted a 4% weekly gain above $72,000 following a U.S.-Iran ceasefire announcement, with spot ETF inflows rebounding and institutional appetite cautiously returning.

Whether or not you believe the CIA theory (most analysts emphatically don’t), the more pressing question for traders right now is what happens to Bitcoin’s price in the next 72 hours — and whether the current consolidation resolves upward or fades.

Discover: The best crypto to diversify your portfolio with

Bitcoin and $80K Level to Break

Bitcoin is consolidating just below $75,000, holding above the $71,000–$72,000 support band that served as a floor during earlier geopolitical volatility. Yesterday’s high of $76,000 represents immediate resistance.

The technical picture is mixed, though. RSI sits at 62, a neutral territory, approaching overbought. But 20 of 32 technical indicators currently read bearish on daily and weekly timeframes, a signal that the rally lacks broad conviction. Alexander Kuptsikevich characterizes the current move as “slow but steady growth,” in not a ringing endorsement for aggressive longs.

Discover: The best pre-launch token sales

Bitcoin Hyper Is Not a CIA Surveillance Instrument

CIA or not, Bitcoin’s asymmetric upside window is largely priced in. That’s not a knock on BTC’s long-term thesis. It’s just arithmetic.

This is why some traders are rotating early-stage exposure toward infrastructure plays positioned to benefit from Bitcoin’s growth rather than replicate it. Bitcoin Hyper ($HYPER) is one project drawing significant attention, and not without reason.

It’s the first Bitcoin Layer 2 integrating the Solana Virtual Machine (SVM), delivering transaction speeds that reportedly surpass Solana itself while inheriting Bitcoin’s security layer. That’s a technically aggressive claim, and the market is responding.

The presale has raised $32 million at a current token price of $0.0136, with huge staking rewards available for participants who commit early. The presale milestone has already drawn wider coverage as BTC Layer 2 infrastructure becomes a key narrative heading into 2026.

Features include a Decentralized Canonical Bridge for BTC transfers, low-latency smart contract execution, and support for payments, meme coins, and dApps, essentially the programmability Bitcoin has never natively offered.

Research Bitcoin Hyper here.

The post Bitcoin is CIA Operation: Professor Jiang Believes appeared first on Cryptonews.

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The curated art platform says its infrastructure has already been spun down with no plans to come back online.

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The US House of Representatives rejected a War Powers Resolution on Iran by a 213-214 vote today, preserving President Donald Trump’s authority to continue military operations.

The narrow defeat came as Trump simultaneously announced a 10-day ceasefire between Israel and Lebanon, positioning himself as a peacemaker even as Congress debated constraints on his war powers.

War Powers Vote Falls One Short

Rep. Gregory Meeks (D-NY) introduced H.Con.Res. 40 to force the withdrawal of US Armed Forces from hostilities with Iran without explicit congressional authorization. The measure failed along largely partisan lines.

Rep. Jared Golden (D-ME) was the lone Democrat to vote against the resolution, siding with Republicans. Meanwhile, Rep. Thomas Massie (R-KY), a frequent critic of expansive executive war powers, crossed party lines to support it. Rep. Warren Davidson (R-OH) voted “present.”

The Senate rejected a similar resolution 47-52 a day earlier. Democrats have now forced at least four such votes in both chambers since the Iran conflict began in late February, all failing along partisan lines.

Trump Announces Israel-Lebanon Ceasefire

Hours before the vote, Trump announced that Israeli Prime Minister Benjamin Netanyahu and Lebanese President Joseph Aoun had agreed to a 10-day ceasefire starting at 5 p.m. EST.

The deal followed the first direct talks between the two countries in 34 years, held in Washington with Secretary of State Marco Rubio.

Trump said he would invite both leaders to the White House for what he called the first meaningful talks between Israel and Lebanon since 1983.

European Commission President Ursula von der Leyen welcomed the truce, urging “a path to permanent peace” and full respect of Lebanon’s sovereignty.

Energy Crisis Deepens Alongside Conflict

The International Energy Agency warned that Europe holds just six weeks of jet fuel supply as the Iran conflict disrupts global energy flows.

IEA Executive Director Fatih Birol described the situation as the largest energy crisis the agency has ever tracked.

Dutch airline KLM has already cancelled 80 flights over the next month due to rising fuel costs. Jet fuel prices across Europe have surged by over 100% since the war began.

Gulf and European officials now estimate the U.S. may need six months to reach a deal with Iran, suggesting the energy shock could extend well into summer.

Whether the Israel-Lebanon ceasefire eases broader regional tensions or simply shifts attention remains the open question for markets.

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