dYdX CEO Antonio posted on X platform stating, "If I decide to resign from the position of CEO of dYdX, please do not congratulate me. Change is difficult, but it is not important in itself. What is most important is what I have built, abandoned, persisted in, and what I will do next." At the same time, Antonio expressed respect for Fred Ehrsam, former co-founder of Coinbase and current co-founder of Paradigm. Earlier reports stated that Fred Ehrsam will resign from his position as managing partner and stay with the company as a general partner, but will reduce his involvement in daily operations.

According to on-chain analyst Yu Jin, whales/institutions who previously purchased BLUR and DYDX from Amber and Copper transferred 2 million BLUR (worth $400,000) to Coinbase at a price of $0.2 per coin after BLUR's rise on October 19. In the last two days (10/23-25), they transferred 1.5 million DYDX (worth $3.22 million) from an Amber address to Binance at a price of $2.15 per coin.

On October 24th, dYdX founder Antonio Juliano posted on X platform that dYdX Chain V1.0 has been officially released, taking a step towards complete decentralization. Previously, dYdX announced that it is open-sourcing its code, marking the beginning of the V4 upgrade and the transition from the Ethereum Layer 2 network to an independent blockchain within the Cosmos ecosystem.

DEX dYdX announced on Tuesday that it will open source its code and launch the v4 upgrade. The developer, dYdX Trading Inc., stated that the v4 upgrade will make the exchange completely decentralized and community-operated, meaning that the company will no longer control the protocol or charge transaction fees. After the v4 is launched on the mainnet, changes to the stack will be governed by community voting through the dYdX Foundation.

Lookonchain has monitored that a whale deposited 1 million DYDX (2.1 million USD) into Binance 20 minutes ago and may be selling it. Since April 4th, this whale has accumulated 4.95 million DYDX (10.3 million USD) through multiple addresses from Binance, and currently has 3.95 million DYDX (8.2 million USD) left in their wallet.

dYdX community has voted in favor of the "Connecting Community with Treasury" proposal with a support rate of 99.99%.

Coinbase Cloud announced on social media that it will support the soon-to-be-launched dYdX Chain and become its validator. Coinbase Cloud stated that the launch of dYdX Chain will drive its protocol to be fully decentralized and better control the trading experience. Since the P2P network itself is an order book, transactions can only occur when orders are filled, and it will also make it easy for developers to build features for advanced traders.

dYdX has announced that its dYdX Chain interface will be open sourced, meaning anyone can fork and deploy it based on v4 usage terms. While this is a big step towards decentralization, traders are advised to do more research before using the deployed dYdX Chain frontend, as it may become a target for bad actors to obtain traders' wallets and funds.

According to official data, dYdX trading volume exceeded $4.4 billion in the past 7 days.

dYdX has launched the dYdX Chain V4 testnet. Earlier this week, dYdX had just shut down the dYdX Chain V3 testnet.