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DYdX CEO Juliano Fires 35% of Workforce and Promises Pivot
"The company we’ve built is different from the company dYdX must be," said the CEO.
dYdx, the company building an on-chain crypto derivatives exchange, fired 35% of its core team Tuesday, said CEO Antonio Juliano.
The shake up adds more turbulence to dYdx's 2024 staffing woes, which had already seen Juliano step down from the leadership post, only to return in early October.
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"The decision to let go was a realization that the company we’ve built is different from the company dYdX must be," Juliano wrote in a blog post titled Letting Go.
dYdX is one of the best-known, blockchain-based venues for trading crypto derivatives. But its dominance came under threat earlier this year with Hyperliquid surging in popularity.
The exchange's total value locked – a key metric in decentralized finance (DeFi) – is down 50% from its 2024 peak in late March. Meanwhile, Hyperliqiid's TVL grew 250% over the same period, and at over $860 million is three times larger than dYdX's.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
Wat u moet weten:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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