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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

dYdX Trading Inc Founder Antonio Juliano Steps Down As CEO, Token Takes a Hit

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
dYdX Sees Sudden Decline

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Antonio Juliano, the founder of dYdX Trading Inc., has announced his decision to “step down” as Chief Executive Officer (CEO), citing a mix of “personal and professional reasons.”

This move marks a significant change for the company behind the decentralized derivatives exchange dYdX. Juliano will transition to the roles of Chairman and President, with Ivo Crnkovic-Rubsamen set to take over as CEO.

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Juliano Reflects On His Tenure And The Evolution Of dYdX

Juliano’s tenure as CEO saw dYdX grow into a prominent player in the decentralized finance (DeFi) sector, especially in derivatives trading.

Reflecting on his journey since the dYdX whitepaper in 2017, Juliano shared in the announcement that moments of “overwhelming” pressure made him consider stepping aside.

Juliano noted:

For my own part in this journey, I too have come far. I feel as though I’ve been gifted (and endured) a lifetime’s worth of adventure and growth since solo founding dYdX at 24. Chris Dixon once told me “founding is an emotional challenge disguised as an intellectual one”. I have now lived this, and know it to be true. dYdX has given me the rollercoaster of intense experiences from ibar, to excitement, to elation, to desolation. There have been times, many of them, when l’ve felt so overwhelmed I wanted to leave.

Notably, Juliano’s decision to change roles, as highlighted in the announcement, comes from a place of “personal satisfaction” and the “realization” that while he is irreplaceable as the founder, the role of CEO can be handed over to someone else.

Today, @AntonioMJuliano, announced that he is transitioning from CEO of dYdX Trading Inc. to the role of President and Chairman. Antonio’s product vision, leadership, and relentless dedication over the past 7 years have transformed dYdX from an idea into one of the largest DeFi… https://t.co/iUdSmjtQ5T

— dYdX (@dYdX) May 13, 2024

Impact Of The CEO Transition – Token Sees Sudden Drop

Ivo Crnkovic-Rubsamen, a long-time friend and collaborator of Juliano, is set to become the new CEO. Juliano expressed confidence in Crnkovic-Rubsamen’s ability to lead, noting that he has been “progressively” stepping back over the past two years, preparing for this transition.

Juliano will continue influencing “major decisions” and strategy at dYdX, working closely with the new CEO to oversee day-to-day operations.

He emphasized that dYdX’s mission is far from complete, pointing to the growing importance of DeFi and derivatives in the crypto landscape, noting:

dYdX is not finished. Not even close. The opportunity is bigger than ever now. It’s becoming incredibly obvious that DeFi will be the dominant way crypto is used, and derivatives will pily a large part in that.

Following the announcement of Juliano’s step-down, the price of the dYdX’s token experienced a decline, dropping by approximately 1.2% in the past 24 hours to a trading price of $2.01, with a 24-hour low of $1.94.

dYdX price chart on TradingView
dYdX price is moving sideways on the 4-hour chart. Source: dYdX/USDT on TradingView.com

This downturn contrasts with the general recovery in the crypto market, highlighted by a 2.8% increase in Bitcoin over the same period.

Related Reading

dYdX token unlock

dYdX to Unlock Over 33 Million Tokens: Will Price Crash?

1 year ago

Despite the dip in token price, dYdX’s total value locked (TVL) has remained stable, with a slight increase of 2.37% over the past month. It has maintained a level above $130 million since March.

dYdX Total Value Locked (TVL).
dYdX Total Value Locked (TVL). | Source: DeFillama

Featured image from Unsplash, Chart from Tradingview

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Read more

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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