Decentralized Derivative Platform DYdX Lays Off 35% of its Staff
dYdX Trading, the company responsible for the decentralized derivative platform, has terminated 35% of its employees, as stated in a recent company blog.
CEO and co-founder Antonio Juliano revealed in the blog that a difficult decision was made to downsize the core team, while expressing gratitude to the departing members.
Juliano had returned to lead the firm developing the Cosmos-based protocol on October 10 after taking a six-month sabbatical, citing personal and professional reasons.
This news follows the announcement from Ethereum development company Consensys regarding a 20% reduction in staff.
Juliano emphasized that the lay offs were necessary to align with the company’s vision and they will move forward with renewed passion and determination to create great things.
