In a dramatic turn of events, Anton Bukov, co-founder of 1inch, was let go in late November, yet he retains a significant stake of 50% in the company. This unusual situation raises questions about the company's future direction and operational dynamics, especially considering 1inch's trade volume has plummeted from approximately $14 billion per month in mid-2025 to just $2.7 billion recently, as reported by DefiLlama.
Bukov’s departure shows a strategic divide within 1inch, which has pivoted towards courting institutional investors and traditional finance. In contrast, Bukov envisions a financial infrastructure devoid of intermediaries, showcasing a fundamental philosophical rift between him and the remaining leadership. His forthcoming venture, Second Tier, is designed not as a competitor to 1inch but as an independent infrastructure company, emphasizing a need for reforms in how financial systems are architected.
The implications of this split could resonate throughout the DeFi landscape, as it highlights the tension between traditional financial approaches and the revolutionary ideals that underpin decentralized finance. With Bukov now focused on Second Tier, the DeFi community may see a shift towards solutions that prioritize user sovereignty and minimal friction in transactions.
As 1inch navigates this transition without Bukov's technical oversight, questions arise regarding the protocol's security and product architecture, areas where Bukov played a key role. The market will be keenly observing how these changes affect 1inch's competitive position and the broader dynamics in the DeFi space.
This article is for informational purposes only and does not constitute financial advice.
