Celyn Armstrong, basic counsel and head of compliance at crypto market maker Portofino Applied sciences, is the newest senior member of workers to go away the agency.

He follows Mark Blackborough, the corporate’s former chief monetary officer, who additionally not too long ago left the enterprise.

“We’re grateful to Celyn for his pivotal function in constructing Portofino’s regulatory and compliance infrastructure. His management helped us acquire key licenses and set up the sturdy controls that underpin our operations in the present day,” a Portofino spokesperson stated in emailed feedback.

“We’re additionally happy to welcome Dilan Bastin as our new head of compliance — her experience shall be invaluable as we proceed to scale responsibly throughout international markets.”

Armstrong, who was based mostly in London and had labored for the crypto buying and selling agency for 3 years, declined to remark.

Previous to becoming a member of Portofino he labored for authorized companies together with Dentons and Linklaters. He was additionally employed by the U.Ok.’s monetary companies regulator, the Monetary Conduct Authority (FCA), for greater than six years, in accordance with his LinkedIn profile.

Along with Armstrong and Blackborough, Cristian Dinu, a quantitative developer, additionally not too long ago left the agency to hitch rival market maker Optiver, in accordance with his LinkedIn profile.

The Swiss firm advised CoinDesk final month that it was exploring opening new workplaces in New York and Singapore.

Portofino raised $50 million in fairness funding in late 2022. It was based by two former Citadel Securities leaders Leonard Lancia and Alex Casimo in 2021.

Learn extra: Crypto Market Maker Portofino Applied sciences Has Massive Plans For 2025