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Ex-Citadel Securities Duo Unveils Crypto High-Speed Trading Firm

  • Portofino emerges from ‘stealth mode’ with $50 million backing
  • Bets on providing liquidity across web3 services and sectors
Alex Casimo, left, and Leonard Lancia
Alex Casimo, left, and Leonard LanciaSource: Portofino

A pair of former Citadel Securities employees are making public a market-making firm for cryptocurrencies they founded with the backing of $50 million from venture capitalists.

Leonard Lancia, Citadel Securities’ former head of Europe systematic market making for derivatives, and Alex Casimo, who was with the firm’s business-management team in Europe, founded Portofino Technologies in April 2021. Since then, the company has traded billions of dollars in so-called stealth mode, the executives said in an interview.