dYdX (ethDYDX)

As per the recent reports, the founder of the decentralized exchange dYdX, Antonio Juliano, believes that in the coming five to ten years, cryptocurrency developers should give up on reaching American consumers.&nbsp; 
<h2 id="span-style-font-weight-400-dydx-founder-talks-about-regulations-in-the-us-span">dYdX Founder Talks About Regulations in the US</h2> 
The dYdX founder recommended that contractors should test the waters in several markets and then come back when the conditions are suitable. 
In an X <a href="https://twitter.com/AntonioMJuliano/status/1695160985877708998?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1695160987681182143%7Ctwgr%5E429b74664b593bfbf1f5c62d95cb24eaa4512013%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcrypto-builders-should-stop-serving-us-customers-for-5-to-10-years" rel="noopener noreferrer nofollow">post</a> from August 25, Juliano gave a point that developers should prioritize areas beyond the United States since they will see less obstacles as they concentrate on platform growth and user acceptance.&nbsp; 
<h3 id="span-style-font-weight-400-more-growth-outside-the-us-says-dydx-founder-span">More Growth Outside the US, Says dYdX Founder</h3> 
The dYdX founder emphasized that they might grow more quickly abroad in favorable marketplaces, which were primarily directed at startups rather than already established businesses.&nbsp; 
He noted: “Crypto builders should just give up serving US customers for now and try to re-enter in 5-10 years. It’s not really worth the hassle/compromises. Most of the market is overseas anyways. Innovate there, find PMF [product market fit], then come back with more leverage.” 
He contends that establishing product market fit abroad before returning to benefit from the “leverage” of large user populations offers more economic sense for developers or startups. 
<h2 id="span-style-font-weight-400-wintermute-ceo-concurs-with-juliano-span">Wintermute CEO Concurs with Juliano</h2> 
<a href="https://twitter.com/EvgenyGaevoy/status/1695161711001551151" rel="noopener noreferrer nofollow">Evgeny Gaevoy</a>, CEO of Wintermute, concurred with Juliano after his remark. However, Coinbase CEO <a href="https://twitter.com/brian_armstrong/status/1695219444027641884?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1695220525130228001%7Ctwgr%5E429b74664b593bfbf1f5c62d95cb24eaa4512013%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcrypto-builders-should-stop-serving-us-customers-for-5-to-10-years" rel="noopener noreferrer nofollow">Brian Armstrong</a> had a different opinion. He said:&nbsp; “I see your point — but I think it will be better in a much shorter time. Probably by next year if I had to guess.” 
<h3 id="span-style-font-weight-400-withdrawal-from-canada-span">Withdrawal from&nbsp; Canada</h3> 
Notably, dYdX made the decision to stop operating services in Canada back in April. <a href="https://thecoinrise.com/dydx-shuts-down-operation-in-canada-citing-regulatory-restrictions/" rel="noopener noreferrer nofollow">As reported by TheCoinRise,</a> from April 14th, dYdX users in Canada were reported to be in close-only mode, with only the option to withdraw assets. 
dYdX was developed by the dYdX Foundation, a private non-profit organization with headquarters in Zug, Switzerland. The dYdX protocol’s present and future implementations are intended to be developed by the foundation. In October of last year, dYdX announced <a href="https://thecoinrise.com/charles-dhaussy-tapped-as-new-ceo-of-dydx-foundation/" rel="noopener noreferrer nofollow">Charles d’Haussy as the new Chief Executive</a> Officer of its Foundation. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/dydx-founder-advises-crypto-devs-to-stop-serving-us-customers/">dYdX Founder Advises Crypto Devs to Stop Serving US Customers</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

dYdX Founder Advises Crypto Devs to Stop Serving US Customers

Table of Contents

TheCoinrise Media

Other articles published on Aug 26, 2023

Attorney Drops Hint Of Binance's Incoming US DOJ Prosecution

US National Debt Hits Record High: Unveiling the Alarming Surge and Financial Repression Strategies

PEPE Price Analysis: Is It the Right Time To Buy The Dip?

Ripple vs. SEC: Pro-XRP Lawyer Challenges SEC And Ripple’s CEO Calls For Testimonies

PEPE Price Slumps as Protocol Goes on Lockdown After Exploit

BRICS+ To Dominate 50% Of the Global Economy by 2050

Join our free newsletter for daily crypto updates!