In my time away, I’ve found my authentic motivation to be the leader I should have been this whole time. I finally feel ready to fully accept my role in what I created
I am coming back with both the drive I felt for the first five years, and the wisdom I’ve found in the last two
Now is the time to go into Founder Mode ™️ to run the company personally 🫡
Thank you to our team and supporters for always driving forwards, and for the space you’ve given me. Thank you for continuing to believe in me and dYdX
We have much to do and many chapters to write. For the first time, I don’t know where that story will take us
But I know we are in exactly the right place, and I am whole heartedly here for it
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This reflects how the company has already been operating for many months
@ivo_crnkovic and the rest of the leadership team have been operating the company while I have continuously moved to focus on defining the vision, strategy, and culture of dYdX
I have found this is the optimal way for us to work. It has allowed us to build faster than ever, while giving me the most clarity I have had on where we’re going and how we get there
Crypto builders should just give up serving US customers for now and try to re enter in 5-10 years
It’s not really worth the hassle / compromises. Most of the market is overseas anyways. Innovate there, find PMF, then come back with more leverage
Let me first be clear on my goals for crypto and where I believe we’re at right now
In the grand scheme of things barely anyone uses or cares about crypto today. I personally don’t care about care about any outcome except growing crypto 100x+ long term
Given this, the only thing that matters for all of us is crypto finding 10x stronger product market fit
*you don’t need to have perfect distribution to iterate and find strong product market fit*
There is a plenty big overseas market to experiment in
There's been a lot of talk about DeFi + Regulation lately
Let’s dive deeper into how DeFi fits into the core principles behind a DCM (CFTC clearing house license, the most core financial infra), where it's 10x better, adequate, and where we still need to figure things out
👇
Financial regulations are based on core principles. These are values that for the most part we should absolutely aspire to in crypto
This week an important *technology* was sanctioned
Today a developer of open source software was arrested for the contents of that software
This is it, this is the line. We need to all take a stand that this should be an illegal attack on freedom
Tornado Cash’s team was not some shady team, afaik they are quality founders who were represented by some of the better crypto lawyers and *tried to do the right thing*
Their contracts were decentralized (no back doors), they didn’t take revenue, and they even put chainalysis compliance detection in their frontend! (despite community flaming them for it)