Velocity Co-founder Cindy Leow Steps Down

Decentralized perpetual exchange Velocity, formerly known as Drift, announced on September 30 that co-founder Cindy Leow has officially stepped down. The protocol, which rebranded from the Solana-based perpetual protocol Drift in July following a restructuring and support from Tether, will continue operations under a reorganized team. Velocity has surpassed $150 billion in cumulative trading volume since its 2021 launch and recently released a testnet version featuring five markets. The team plans to optimize its order flow system and intends to expand into stock derivatives trading in the future.