dYdX Founder Steps Down as CEO of the Decentralized Exchange

Antonio Juliano, the founder of dYdX Trading Inc., has stepped down as CEO of the decentralized derivatives exchange. The change was not sudden to the internal team, employees, or stakeholders, but had been in discussion. Juliano stated that the SEC has not taken action against dYdX Trading and that he is not expecting a Wells notice. Juliano had experienced a rollercoaster of emotions since writing the original dYdX whitepaper in 2017, but now feels personally satisfied and realizes he doesn't have to run his own company.

Ivo Crnkovic-Rubsamen, Juliano's longtime friend and partner in running the company, is ready to take over as CEO. Juliano will transition to Chairman and President and will continue to drive major decisions and strategy. He remains excited for the opportunity that DeFi will become the dominant way crypto is used, and derivatives will play a large part in that.

Technical Outlook
The price of DYDX remains flat following the announcement, currently trading for $1.984 down 1.2% with a Relative Strength Index (RSI) of 36 which is slightly oversold. DYDX has been in a consolidation phase since the 2nd week of April a possible trend reversal could occur if the new CEO takes the firm to the next level.