Gunderson Dettmer Represented Pocket Protector in its Acquisition by dYdX

Gunderson Dettmer represented client Pocket Protector, a social-trading startup, in its acquisition by dYdX, a leading decentralized exchange. Pocket Protector, founded in 2024, allows users to trade directly in group chats, a format that has drawn over 50,000 users and reached more than $1 billion in annualized trading volume in its first year.

The acquisition positions dYdX for its next phase of growth in the increasingly competitive decentralized finance derivatives market, pushing into social trading to compete with newer, more consumer-focused platforms.

In the announcement of the acquisition, dYdX founder Antonio Juliano said, “These additions enable us to execute rapidly on an ambitious roadmap.” He added that Pocket Protector co-founder Eddie Zhang’s “founder mindset and product depth will help us ship powerful new experiences fast.”

The Gunderson deal team was co-led by Ibrahim Elshamy, David Moore and Oh Sung Kwon and included Maurice Osei, Julia Golombik, Shawna Reeder, Rebecca Harris, Craig Olshan, Elisabeth Bernabe, Lily Kim and Tina Xu.

Companies
Pocket Protector
dYdX