Decentralized
Restructuring at dYdX Trading
Wednesday. October 30 at 6:00 PM
1 min. readdYdX Trading, the company behind the decentralized crypto exchange, has downsized its workforce by 35%, following the return of CEO Antonio Juliano. Juliano hinted at the necessity for a new direction for the company. This move coincides with Consensys, the firm behind MetaMask, reducing its staff by 20% to enhance organizational agility. Juliano emphasized the need to rejuvenate the company upon resuming his role as CEO, acknowledging the challenges faced in a competitive market. dYdX Trading, known for dYdX Chain, a Cosmos SDK-based blockchain, offers dYdX v4, a popular perpetual futures exchange. The company faced difficulties, including a DNS attack on its exchange domain and discussions regarding the sale of derivative trading software. The recent layoffs align with Bitcoin's surge towards all-time highs, reflecting a period of change and adaptation in the crypto industry.