Decentralized exchange dYdX is reportedly preparing to enter US markets by the end of 2025, its president Eddie Zhang stated.
According to a Reuters report published Thursday, the company plans to enter the United States in the coming months, expanding its offerings to include spot trading on cryptocurrencies, such as Solana (SOL).
“It’s very important for us as a platform to have something available in the United States, because I think it represents, hopefully, the direction we’re trying to move in,” said Zhang, according to Reuters.
dYdX specializes in perpetual futures trading, a type of derivative that allows users to speculate on cryptocurrency prices without owning the underlying asset.
Zhang reportedly cited the increasingly favorable regulatory environment in the country under US President Donald Trump as part of the reason for the move, adding that he hoped agencies would provide guidance for perpetual contracts.
The Securities and Exchange Commission and Commodity Futures Trading Commission announced in September that they would consider bringing perpetual contracts onshore for US traders.
Governance Vote on Protocol Outage
On Monday, the decentralized exchange announced an open vote for users affected by operations pausing for approximately eight hours during a market crash in early October. The governance vote proposed compensating users with a total of $462,000 from the protocol’s insurance fund.
According to data from Nansen, the price of the protocol’s native token dYdX (DYDX) had fallen by about 50% in the last 30 days, from $0.60 to $0.30.
dYdX has not yet responded to a request for comment.