Antonio Giuliano has resigned as CEO of dYdX
The founder of decentralized exchange dYdX is stepping down as CEO after seven years at the helm of the crypto derivatives platform.
In a May 13 blog post, Antonio Giuliano announced his decision to transition from the day-to-day operations of the exchange to the role of chairman and president. “I am transitioning from CEO to Chairman and President of dYdX Trading In.,” Giuliano wrote.
The company is now led by DIDX's former Chief Strategy Officer Ivo Crnkovic-Rubsamen. According to his LinkedIn profile, Crnkovic-Rubsamen is a former trader who has worked on decentralized exchanges since 2022.
“As soon as I realized I didn't need to be a CEO, I worked to shepherd other leaders in the company on their own leadership journeys,” Giuliano says of Krankovic Rubsamen.
Giuliano didn't mention his future professional goals, but hinted at the “next step” in his career: Before founding dYdX, Giuliano was a software engineer at companies like Coinbase, Uber, and MongoDB.
According to data from Defilama, dYdX has seen an increase in activity in recent months as crypto markets rebound. DEX has a market capitalization of over $1.1 billion at the time of this writing, and $463 million in total value locked up. DEX's annual revenue is $35.4 million. In total, derivatives will account for more than $1.31 trillion in trade by 2021.
Much of the recent trading activity can be linked to ongoing developments around the protocol, such as dYdX launching its own Layer-1 blockchain in October 2023. Based on the native DYDX token for network transactions, it allows the network to pass gas payments back to validators. And stakers as a reward.
Additionally, dYdX released its v4 update in January, migrating its DEX from Ethereum to the Cosmos network.
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