**Crypto News Flash: dYdX Restructures Amid Market Shifts**

dYdX, a leading on-chain crypto derivatives exchange, has let go of 35% of its core team, according to CEO Antonio Juliano. This move follows a turbulent year for the company, with Juliano stepping down and then returning to his leadership role in October.

- dYdX has faced stiff competition from Hyperliquid, which has seen its Total Value Locked (TVL) grow by 250%, now standing at over £860 million.

- In contrast, dYdX's TVL has dropped by 50% since its peak in March 2024.

What do you think this means for the future of DeFi? Share your thoughts in the comments! 🚀