Citadel Securities believes that the startup stole a trade secret

We are talking about the startup Portofino Technologies. Market maker Citadel Securities filed a lawsuit against him. This was written by the publication The Block.

More about this

Citadel Securities is one of the largest market makers. In his opinion, the creators of the startup, who are already former employees, stole a trade secret.

The document states that they were able to get access to important data of the market maker. At the same time, this happened 6 months before they started looking for investors to launch a startup.

The lawsuit also states that the startup wanted to use innovations to "replicate" the Citadel company. Therefore, they hope for compensation for the losses caused.

In the startup itself, they say that the Citadel staged a "corporate harassment". They explained that the lawsuit is the Citadel's last opportunity to harm the startup. They categorically deny all claims and believe that it is low and not competitive.

In September last year, the startup was able to get about $ 50 million from various investors. Representatives assure that they have created high-frequency operations with cryptocurrencies. At the same time, the volume reached billions of dollars at various sites.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.