dYdX announced on social media that its high-profit trading strategy has been banned. In addition, dYdX also announced today that it has used approximately $9 million from the dYdX v3 insurance fund to fill the gap in the YFI market liquidation, and the v3 insurance fund still has $13.5 million in remaining funds and is in good financial condition.

DYdX founder Antonio responded on social media to the news that "about $9 million from the dYdX v3 insurance fund was used to fill the gap in the YFI market liquidation", stating that this is clearly a targeted attack on dYdX, including market manipulation of the entire YFI. We are conducting investigations with multiple partners and will maintain transparency in our findings, and even if no user funds are affected, we will thoroughly review our risk parameters and make appropriate changes to v3 and possible dYdX Chain software if necessary.Previously, Golden Finance reported that dYdX stated in a post that about $9 million from the dYdX v3 insurance fund was used to fill the gap in the YFI market liquidation last night.

Arkham stated that YFI has dropped nearly 40% recently, and about $50 million of open positions on dYdX have been closed. Prior to this, nearly half of YFI's open positions were on dYdX.

On November 17th, Scopescan monitoring revealed that within the past 30 minutes, a whale deposited 550,000 DYDX tokens (approximately $2.07 million USD) into both Binance and OKX exchanges. The whale had purchased 693,000 DYDX tokens at an average price of $2.5 USD three weeks ago, which has now increased by 44%.

According to Yu Jin monitoring on November 16th, a whale sold 500,000 DYDX for 2 million USDC at a price of $4.015 through Amber in the previous 12 hours.

Lookonchain monitoring shows that a wallet that has been dormant for 730 days deposited 1.2 million DYDX tokens (worth $4.97 million) into Kraken 5 hours ago. Currently, the wallet still holds 2.8 million DYDX tokens (worth $11.6 million). In 2021, the wallet received 4 million DYDX tokens (worth $16.5 million) from the dYdX Foundation wallet.

According to The Data Nerd's monitoring, in the past few days, the Smart Money address has accumulated over 800,000 DYDX tokens (worth $3 million).

According to Lookonchain monitoring, in the past 24 hours, a whale has transferred 1 million DYDX tokens (worth $4 million) to Kraken. If the whale sells the aforementioned DYDX, it will make a profit of about $1.5 million. The whale currently holds 1.03 million DYDX tokens (worth $4.17 million).

dYdX Foundation announced on the X platform that the dYdX community has voted to launch the dYdX Chain Beta phase. The voting rate was 83.7% (56 out of 60 Active Set validators and 451 accounts voted), with a support rate of 99.1%.

Governance Proposal 1 for dYdX Chain has been approved and the first transaction on dYdX Chain has been executed.