Citadel Drops U.S. Portofino Suit, Seeks Bankruptcy Order Against Firm's Founder in UK

Citadel has dropped its U.S. trade secrets lawsuit against crypto market maker Portofino Technologies and is seeking a bankruptcy order in the UK against Portofino founder Leonard Lancia over an unpaid arbitration award. The move follows a nearly 6 million-pound ($8 million) London arbitration judgment that Citadel says it has been unable to collect, according to CoinDesk. Citadel and Portofino jointly agreed to dismiss the New York case, with each side bearing its own costs, while Citadel says Lancia owes 5.98 million pounds plus interest and costs from the 2025 London Court of International Arbitration award.