Founder of dYdX steps down as CEO of firm behind decentralized exchange

Quick Take

  • Antonio Juliano has stepped down as CEO of dYdX Trading Inc., citing personal and professional reasons.
  • Ivo Crnkovic-Rubsamen will take over as CEO, with Juliano transitioning to Chairman and President.

Antonio Juliano, founder and CEO of dYdX Trading Inc., the developer behind the decentralized derivatives exchange dYdX, has stepped down as CEO, citing personal and professional reasons. 

“The change wasn’t sudden to the internal team, employees, or stakeholders. It had been in discussion," a spokesperson told The Block.

When asked if there were regulatory concerns that prompted the resignation, the spokesperson said, "The SEC has not taken action against dYdX Trading. We have not received a Wells notice and do not expect to receive one.”

Reflecting on a “rollercoaster” of emotions since writing the original dYdX whitepaper in 2017, Juliano said in a blog post on Monday that there were many times he felt so overwhelmed he wanted to leave.

However, since becoming “profoundly personally satisfied” and realizing he “[didn't] actually have to run [his] own company,” Juliano said that while he can't be replaced as dYdX’s founder, he can be replaced as CEO.

Ivo Crnkovic-Rubsamen takes over as CEO

Having progressively stepped back over the past two years, Juliano said his “longtime friend and partner in running the company,” Ivo Crnkovic-Rubsamen, was ready to take over as CEO. “It is because of all this I will be stepping down as CEO of dYdX Trading Inc. and transitioning to Chairman and President,” Juliano added.

“I have no plans for what comes next for me, and no idea what Iʼll do,” Juliano continued.  However, the dYdX founder said he would “continue to drive major decisions and strategy,” and work closely with Crnkovic-Rubsamen as he runs day-to-day operations.

“dYdX is not finished. Not even close,” he added. “The opportunity is bigger than ever now. Itʼs becoming incredibly obvious that DeFi will be the dominant way crypto is used, and derivatives will play a large part in that. What we build will be determined in decades. I remain incredibly excited for that journey and my new part in it.”

The price of dYdX remained flat following the announcement and currently trades for $2, according to The Block’s price page.

Additional reporting by Yogita Khatri.


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About Author

James Hunt is a reporter at The Block and writer of The Daily newsletter, keeping you up to speed on the latest crypto news every weekday. Prior to joining The Block in 2022, James spent four years as a freelance writer in the industry, contributing to both publications and crypto project content. James’ coverage spans everything from Bitcoin and Ethereum to Layer 2 scaling solutions, avant-garde DeFi protocols, evolving DAO governance structures, trending NFTs and memecoins, regulatory landscapes, crypto company deals and the latest market updates. You can get in touch with James on Telegram or 𝕏 via @humanjets or email him at [email protected].

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