Breaking News: Surprise Development! Giant Altcoin DYDX is Said to be in Talks to Sell Its Platform!

According to breaking news, DYDX, a major altcoin, is in talks to sell its decentralized exchange platform.

Wintermute Trading and Selini Capital are among potential buyers of the dYdX v3 software, said two people who asked to remain anonymous because the talks were not made public.

DYdX Trading Inc, the company behind the DyDx decentralized exchange, is reportedly in talks to sell off part of its derivatives trading software.

The potential buyers, a consortium that includes some of the largest market makers in the crypto space, were not disclosed.
According to anonymous sources, interested parties include Wintermute Trading Ltd. and Selini Capital. The sales talks, which have not yet been made public, include the dYdX v3 software.

Perella Weinberg Partners is said to be advising New York-based DYdX Trading on the deal.
Representatives for dYdX and Perella Weinberg, which takes its name from the mathematical notation for a derivative, did not respond to requests for comment. Spokespeople for Wintermute and Selini also remained silent on the matter.

According to an analysis by crypto risk modeling firm Gauntlet, the v3 platform continues to attract investors due to its higher liquidity for certain tokens. The platform also offers less slippage on large trades, referring to the price change between placing an order on an exchange and its execution.

The v3 platform, backed by venture capital firms such as Andreessen Horowitz and Paradigm, generated $137 million in fees in 2022, as VanEck estimated in a March 2023 report. That figure was based on a total trading volume of $466.3 billion from more than 33,900 unique traders.

The V3 platform is expected to generate around $18.67 million in revenue this year, according to watchdog DeFiLlama, but US residents are not allowed to trade on the exchange.

*This is not investment advice.