The decentralized trading platform dYdX based in Switzerland has announced a 35% reduction in its core workforce.

CEO Antonio Juliano shared the news on X, calling the decision "sad" but promising to provide detailed reasons later.

- **Streamlined Team**: Juliano emphasized that the layoffs are not due to financial reasons, but to create a more streamlined team to achieve dYdX's long-term goals.

- **Reigniting Passion**: He stated that the company had strayed from its original vision and that the workforce reduction is necessary to bring "clarity" and "new passion" to the project.

- **CEO Returns**: This decision comes just a week after Juliano returned to lead dYdX after a six-month absence, aiming to "revive" the platform in a fiercely competitive landscape.

- **New Hiring**: Despite the cuts, dYdX is still hiring for several key positions such as trading infrastructure engineers and senior product designers.

🌐 Despite the challenges, dYdX remains optimistic about the future of blockchain technology and cryptocurrencies.