Velocity Co-founder Cindy Leow Announces Resignation

Decentralized perpetual swap exchange Velocity (formerly Drift) announced that co-founder Cindy Leow has officially stepped down, with the rebuilt team continuing to operate the protocol going forward. Formerly known as Drift, a perpetual swap protocol on the Solana ecosystem, Velocity has recorded over $150 billion in cumulative trading volume since its launch in 2021. After undergoing restructuring in April and receiving support from Tether, the protocol was renamed Velocity in July and recently rolled out a test version encompassing five markets. Furthermore, the protocol has completed security audits and open-sourced its code.