West Hollywood trading app Pocket Protector was acquired by dYdX Trading Inc. for an undisclosed amount. As part of the acquisition, Eddie Zhang is joining as President and Kaiser Kinbote as Head of Growth, alongside their four-person engineering team.
Pocket Protector, founded in 2024, built a Telegram-native trading app that grew virally to 50,000 users and over $1 billion in annualized trading volume.
“Pocket Protector’s products will join the dYdX product suite, and I’m excited for how their technology will power the expansion of the main dYdX product,” said Antonio Juliano, chief executive and founder of dYdX Trading Inc., in a statement.
Zhang previously worked at Meta on its Messenger app and co-founded the social app Fam. Kinbote’s experience includes investments in several early-stage crypto projects.
Gunderson Dettmer represented Pocket Protector in the transaction.
Information for this article was sourced from dYdX Trading Inc.
