Jump Trading sues former engineer for starting a competing project and secretly raising funds

ChainCatcher news, Jump Trading has filed a lawsuit against its former software engineer Liam Heeger, accusing him of now operating a "competing business," in violation of non-compete obligations.

The company claims that Heeger, who co-led the large blockchain project Firedancer at Jump, violated the non-compete agreement after resigning from the company on November 11. Documents show that Heeger has launched a new blockchain development venture that "directly competes with Jump."

Jump states that Heeger secured $3 million in funding at a $50 million valuation within a month of his resignation, which directly violates his contractual non-compete obligations. Jump also alleges that Heeger secretly raised funds for his new business at the Breakpoint conference in Singapore while he was still working at the company, co-leading the Firedancer project.