Celyn Armstrong, general counsel and head of compliance at crypto market maker Portofino Technologies

He follows Mark Blackborough, the company's former chief financial officer, who also recently left the business.

A few senior members of staff have recently left crypto market maker Portofino Technologies.

Among them is general counsel and head of compliance Celyn Armstrong, who is leaving the firm after three years.

"We’re grateful to Celyn for his pivotal role in building Portofino’s regulatory and compliance infrastructure. His leadership helped us obtain key licenses and establish the strong controls that underpin our operations today. We wish him well in his future endeavors. We’re also pleased to welcome Dilan Bastin as our new head of compliance – her expertise will be invaluable as we continue to scale responsibly across global markets," a Portofino spokesperson said in emailed comments.

Armstrong, who was based in London, declined to comment.

Prior to joining Portofino he worked for legal firms including Dentons and Linklaters. He was also employed by the U.K.'s financial services regulator, the Financial Conduct Authority (FCA), for more than six years, according to his LinkedIn profile.

In addition to Armstrong, quantitative developer Cristian Dinu has recently left the firm to join rival market maker Optiver, according to his LinkedIn profile.

The Swiss company is exploring opening new offices in New York and Singapore, it told CoinDesk last month.

Portofino is expanding rapidly. It raised $50 million in equity funding in late 2022 and it is hiring across several teams.

The firm was founded by two former Citadel Securities leaders Leonard Lancia and Alex Casimo in 2021. It provides liquidity to crypto exchanges and pulls together trades from hedge funds and other institutions.