The decentralized exchange dYdX aims to enter the U.S. market by the end of 2025, as stated by company president Eddie Zhang.
According to a report from Reuters on Thursday, the cryptocurrency trading platform plans to introduce spot trading for digital assets like Solana (SOL) in the upcoming months. Zhang noted that establishing a presence in the US is a crucial move for the company, stating it signifies “the path we’re aiming to take.”
dYdX, widely recognized for its perpetual futures offerings, allows users to trade crypto derivatives without possessing the actual tokens. Zhang remarked that the choice to grow was shaped by what he termed a more favorable regulatory environment during US President Donald Trump’s presidency
dYdX Pushes Forward as US Regulators Warm to Perpetual Contracts
In September, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced they were considering allowing perpetual contracts for American traders, a move seen as a potential breakthrough for decentralized finance (DeFi) platforms.
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Speaking to Cointelegraph through a spokesperson, dYdX president Eddie Zhang said the regulatory mood in the US has become “much more supportive” toward DeFi and digital assets. He added that the platform, built in the US, now expects fair and balanced treatment from regulators, which he believes creates the right environment to expand into spot trading.
Earlier this week, dYdX opened a governance vote to decide whether users affected by an eight-hour service pause during the early October market crash should be compensated. The proposal suggests allocating $462,000 from the platform’s insurance fund.
Meanwhile, market data from Nansen shows that dYdX’s native token (DYDX) has dropped by roughly 50% over the past month, falling from $0.60 to around $0.30.
