Antonio Juliano, founder of the decentralized derivatives exchange dYdX, recently announced a 35% workforce reduction.
Despite the significant restructuring, dYdX’s token price remains steady, showing no negative impact and continuing to trade above $1. The token has even shown an 8% rise since the start of the week, though it remains 96% below its all-time high.
Restructuring for dYdX’s New Vision
In an official statement, Juliano refrained from detailing specific reasons or disclosing the exact number of employees affected. However, he explained that the company now has the right team in place to execute its future vision. According to Juliano, dYdX was initially built differently from its current strategic direction, prompting this difficult decision.
Company Restructure Doesn’t Impact dYdX Token Price
According to dYdX’s website, the company has around 50 employees and is still hiring for roles in engineering and design. Despite the layoffs, the dYdX token has maintained its price, reflecting investor confidence in the platform’s future trajectory.
