Swiss-based decentralized trading platform dYdX has announced a 35% reduction in its core workforce.
Platform CEO Antonio Juliano initially shared the news in a brief post on X, calling the decision “sad” while promising to provide more measured reasoning for the action later.
A Leaner dYdX
In the social media post, the CEO stressed that the layoffs were not a financial decision, a point reinforced in a subsequent blog entry titled “Letting Go.” Here, Juliano attributed the departures to the need to create a leaner team to help dYdX achieve its long-term goals:
“Today, I made the incredibly difficult decision to lay off 35% of the dYdX core team. We now have the team we need going forward, but first, we say goodbye to those who have left.”
He also noted that the company had veered off from the original vision that birthed it, and the job cuts were necessary to provide “clarity” and “renewed passion” to the project.
The post did not explicitly state who among the dYd
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