dYdX acquires crypto social trading platform Pocket Protector, marking its first external acquisition

PANews reported on July 18 that according to The Block, decentralized derivatives exchange dYdX completed the acquisition of crypto social trading platform Pocket Protector, which was its first external acquisition. The transaction was completed in the form of a combination of cash + DYDX tokens, and the specific amount was not disclosed. The two co-founders of Pocket Protector will join dYdX as president and head of growth respectively, and the Telegram trading robot (including copy trading function) and the 9-person technical team they developed will be incorporated into dYdX. Pocket Protector was founded last year and has raised $7 million from investors such as Electric Capital and Dragonfly.