dYdX Eyes US Market Entry: Decentralized Crypto Exchange Plans Year-End Debut, Reuters

dYdX, a leading decentralized cryptocurrency trading platform, is preparing to enter the US market by the year's end. This move is influenced by shifting crypto policies and increased support from the Trump administration. dYdX operates differently from centralized exchanges by allowing direct user transactions on a blockchain, eliminating intermediaries. The platform specializes in perpetual contracts, which allow speculation on asset prices without ownership or expiration dates. It has already facilitated over $1.5 trillion in total trading volume since its inception. dYdX plans to offer spot trading for cryptocurrencies like Solana, XRP, and Cardano in the US upon launch. The new crypto-friendly legislation, including the GENIUS Act and the Market Structure Bill, aims to foster the digital asset ecosystem's growth. Upon entering the US market, dYdX intends to significantly reduce its trading fees. Perpetual contracts might not immediately be available due to regulatory hurdles. The SEC and CFTC are signaling a willingness to permit crypto perpetual contracts on regulated platforms. The platform's native token, DYDX, is currently trading at around $0.30, having experienced a significant price decline over the past year.