Portofino Technologies, a Switzerland-based crypto market making firm, is experiencing a significant staff exodus following the firings of its co-founder Alex Casimo and CFO Jae Park in July 2024. This decision led to the resignations of several key personnel, including Vincent Prieur, the head of strategy and operations, and Shane O’Callaghan, the global head of business development, resulting in a loss of 30%-40% of the firm's workforce. Despite this turmoil, the company has hired a new CFO, Mark Blackborough, and a senior sales trader, Olivier Sultan, and is actively recruiting for four open positions. Portofino's CEO Leonard Lancia has faced criticism regarding the work environment, with reviews on Glassdoor describing it as toxic and questioning his leadership. The firm aims to rebuild its leadership team as it prepares for what is expected to be a record year in the crypto market.

Source 🔗