dYdX Fires 35% of its Employees

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Decentralized crypto exchange dYdX Trading has recently let go of 35% of its staff as its CEO, Antonio Juliano, has hinted at the need for a new direction for the company.

Juliano, who had previously stepped down from his role in May, returned to the company on Oct. 10.

In a statement, Juliano acknowledged the difficulty of the decision and stated that the company needs to evolve towards a new vision.

He expressed his determination to move forward with renewed passion and create amazing things. This announcement comes on the same day that Consensys, the firm behind MetaMask, also reduced its workforce by 20% in an effort to become a more agile organization, according to CEO Joe Lubin.

When Juliano returned as the CEO earlier this month, he mentioned a need to revitalize the company and stated that he would be running it personally in “Founder Mode™️.”