dYdX CEO Cuts 35% of Workforce Amid Strategic Pivot in Turbulent Year

dYdX CEO Antonio Juliano announced a 35% cut in the company's core team, marking a major shift as the exchange repositions itself within the crypto derivatives market.

dYdX, a leading on-chain crypto derivatives exchange, recently underwent a major strategic pivot, cutting 35% of its workforce.

In a blog post titled “Letting Go,” CEO Antonio Juliano, who recently returned to his role earlier this month, explained the company’s need to restructure in response to the evolving landscape.

"I’ve made the incredibly difficult and sad decision to move on from 35% of the dYdX team

More thoughts on why and what this means tomorrow, but for today a goodbye

https://t.co/ssFAjXPE0J"

The move comes amid a turbulent year for dYdX, which saw Juliano briefly step down from his role and the exchange experience a sharp 50% drop in its total value locked (TVL) since March 2024.

Meanwhile, competitor Hyperliquid has seen rapid growth, surging 250% in TVL to amass over $860 million — nearly triple dYdX's current TVL.

DYDX CEO Cuts 35% of Workforce Amid Strategic Pivot in Turbulent Year

dYdX CEO Antonio Juliano announced a 35% cut in the company’s core team, marking a major shift as the exchange repositions itself within the crypto derivatives market.

Following an earlier resignation, Juliano returned to his role at the exchange on