Loading data, please wait a moment. We are fetching the latest content from the server and validating, organizing, and rendering it to ensure the information you see is accurate, complete, and up to date. Loading speed may be affected by your network, device performance, or the current amount of data, so a brief wait is normal. To avoid extra delays caused by duplicate requests, please don't refresh frequently or repeatedly click buttons, and don't close the page or switch to an offline network. The page will update automatically once the data is ready. If it takes noticeably longer, check your network connection and try refreshing or coming back later. If the issue persists, please let us know so we can investigate. Thanks for your patience and understanding.
Total MarketCap: $0 0
24H Vol: $0.00
BTC:
0 sat/vB
ETH: Gwei
Citadel withdraws the Portofino U.S. trade secret lawsuit and shifts to filing for bankruptcy in the UK to recover a £6.00 million arbitration award.
OdailyJul 8, 2026
The Wall Street top market-making institution Citadel Securities has officially withdrawn its US trade secret lawsuit against crypto market maker Portofino Technologies, shifting its focus to UK bankruptcy proceedings to recover nearly £6 million in London arbitration compensation. Citadel has filed documents with the New York court, jointly applying with Portofino to dismiss the case, stating that pursuing the US lawsuit further lacks economic value and would be difficult to enforce even if successful. This multinational dispute, spanning nearly three years, has not resulted in a substantive ruling on the trade secret allegations.
Citadel emphasized that withdrawing the lawsuit does not mean its trade secret claims are invalid. It had previously obtained a favorable judgment in London arbitration, but the founder has been slow to fulfill the payment. Therefore, Citadel turned to the High Court of Justice in the UK to initiate bankruptcy proceedings against Portofino's founder to enforce its creditor rights. (CoinDesk)[Odaily]
Powered by ChatGPTAll You Need to Know in 10s