dYdX
DYDXDeFi · Built in San Francisco, CA · dYdX Trading Inc. (d/b/a dYdX Labs)
Listing suspended on 2026-09-14
No current US headquarters is established for dYdX Trading Inc. (Test 1). Its Delaware incorporation is registry-evidenced, but its addresses are a 2017 Form D residential apartment (more than three years old) and a San Francisco principal office on a Colorado foreign-corporation registration now marked Delinquent, and no independent source states where it is based today. Founder Antonio Juliano gave a San Francisco residential address on the company's 2017 Form D (Test 2). User-facing terms are with dYdX International Ltd (Cayman Islands), and its principal-contributor status rests on its own June 2025 announcement, while the dydx.xyz legal footer says dYdX Labs does not develop the protocol for public use. Market data is withheld until verification meets the USCC evidence standard.
The verdict on record
Pathway: Foundation with a US principal contributor. Needs Tests 1 and 4, plus 2 or 3.
Test 1 · not met
Headquartered in the United States
US headquarters of dYdX Trading Inc. (d/b/a dYdX Labs) is not yet supported by a primary document or two independent sources.
Test 4 · passes on primary documents
Registered in a US state
dYdX Trading Inc. (d/b/a dYdX Labs) is registered in DE.
2 sources· 2 primary
- Filingdata.sec.gov/submissions/CIK0001725806.json2026-09-14
- Registrydata.colorado.gov/resource/4ykn-tg5h.json2026-09-14
Test 2 · passes on primary documents
American founding team
1 of 1 named founders are US persons holding operational roles.
4 sources· 1 primary
- Filingsec.gov/Archives/edgar/data/1725806/000114420417064296/primar…2026-09-14
- Presstheblock.co/post/320502/dydx-trading-founder-antonio-juliano-…2026-09-14
- Projectdydx.xyz/blog/the-return2026-09-14
- Projectdydx.xyz/blog/dydx-acquires-ecosystem-teams2026-09-14
Test 3 · not met
Primary operations in the United States
No US primary-operations claim is supported by a primary document or two independent sources.
Legal entities
dYdX International Ltd
Cayman Islands · operating company
1 source· 1 primary
- Legal termsdydx.xyz/legal/terms-of-use2026-09-14
dYdX Trading Inc. (d/b/a dYdX Labs)
Delaware · principal contributor · San Francisco, CA
6 sources· 4 primary
- Filingdata.sec.gov/submissions/CIK0001725806.json2026-09-14
- Filingdata.sec.gov/submissions/CIK0001725806.json2026-09-14
- Registrydata.colorado.gov/resource/4ykn-tg5h.json2026-09-14
- Legal termsdydx.xyz/legal/privacy-policy2026-09-14
- Projectdydx.xyz/blog/dydx-acquires-ecosystem-teams2026-09-14
- Referencegithub.com/dydxprotocol/v4-chain2026-09-14
Founders
Antonio Juliano
Founder; CEO of dYdX Trading Inc. (stepped down May 2024, returned October 2024) · US person at founding · operating role today
4 sources· 1 primary
- Filingsec.gov/Archives/edgar/data/1725806/000114420417064296/primar…2026-09-14
- Presstheblock.co/post/320502/dydx-trading-founder-antonio-juliano-…2026-09-14
- Projectdydx.xyz/blog/the-return2026-09-14
- Projectdydx.xyz/blog/dydx-acquires-ecosystem-teams2026-09-14
Notable US investors
Record history
2026-09-14 · correction
Added dYdX Trading Inc.'s Colorado foreign-corporation record (Delaware; status Delinquent) and recorded the dydx.xyz legal disclaimer as evidence contrary to its development role. Antonio Juliano recorded as a US person at founding from his San Francisco address on the 2017 Form D.
2026-09-14 · suspended
Suspended pending official evidence that dYdX Trading Inc. is the principal contributor and of current US headquarters and operations.
2026-09-14 · correction
Series C lead corrected to Paradigm (was a16z); Cayman entity dYdX International Ltd added as terms counterparty; unsupported Brooklyn HQ replaced by the EDGAR San Francisco address; dead Operations subDAO source and unsourced audit/background claims removed. The dydx.xyz disclaimer was wrongly cited as support for dYdX Labs' role and is now noted as contrary evidence; the June 2025 dYdX Trading Inc. announcement added as project evidence of its development role.
2026-04-29 · listed
Listed in the v0.1 allowlist.
About dYdX
dYdX is a perpetual-futures exchange protocol running on its own Cosmos-SDK chain. The dydx.xyz terms are with dYdX International Ltd (Cayman Islands); dYdX Trading Inc. operates as dYdX Labs and describes itself as developing dYdX product upgrades and, in June 2025, acquired business teams from the dYdX Foundation; the dydx.xyz legal footer nonetheless states that dYdX International Ltd, dYdX Labs and their affiliates "do not develop, control or participate in the operation of any component of the dYdX protocol for public use". In June 2026 dYdX Labs and Robinhood Crypto announced Arcus, a separate exchange on Robinhood Chain.