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

Odaily Planet Daily reports that decentralized derivatives exchange dYdX has completed the acquisition of crypto social trading platform Pocket Protector, marking its first external acquisition. The deal was settled in a combination of cash and DYDX tokens, though the specific amount was not disclosed. The two co-founders of Pocket Protector will join dYdX as President and Head of Growth, respectively. Pocket Protector’s Telegram trading bot (which includes copy trading features) and its nine-person technical team will be integrated into dYdX. Founded last year, Pocket Protector has raised $7 million from investors such as Electric Capital and Dragonfly. (The Block)