dYdX Introduces New KYC Verification, Faces Criticism
According to a blog post, those users who complete the new verification program, would have got a $25 bonus if they deposit $500 or more. However, a few hours after the program was announced, dYdX had to terminate it, citing "extremely overwhelming demand." Although the exchange noted that participation was "completely optional," it was enough to spark an outcry in the crypto community, as some said dYdX had "nuked itself" with the latest initiative.
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