Cryptocurrency market maker Portofino Technologies completes $50 million financing, with participation from Valar Ventures and others

According to ChainCatcher, The Block reported that crypto market maker Portofino Technologies, founded by former Citadel Securities executives Leonard Lancia and Alex Casimo, has completed a $50 million funding round, with participation from Valar Ventures, Global Founders Capital, and Coatue.

Portofino Technologies was established in April 2021 and is developing high-frequency trading technology for digital assets, having already executed billions of dollars in trades across CEX, DEX, and OTC markets. The company is reportedly set to compete with other cryptocurrency market makers such as Wintermute, B2C2, and Jump Trading. (The Block)