Portofino Technologies Navigates Employee Exodus After Key Executive Firings Amid FCA Approval

According to recent reports from COINOTAG on October 24, Portofino Technologies, a notable cryptocurrency market maker based in Switzerland, has secured approval from the UK Financial Conduct Authority to cater to institutional cryptocurrency clients within the UK market. However, the company has faced significant internal challenges following the dismissals of its co-founder and chief financial officer earlier this year. The terminations of key executives, such as chief operating officer Alex Casimo and CFO Jae Park, initiated a wave of resignations, including Vincent Prieur from strategy and operations. Sources indicate that approximately 30%-40% of the workforce, equating to 10-12 employees, have departed since these events. In response to the turnover, Portofino has appointed Mark Blackborough as the new CFO and Olivier Sultan as senior sales trader, while also actively recruiting to restore team strength, resulting in the current count meeting prior summer levels.