Cryptocurrency market-making firm Portofino Technologies, which received approval from the UK's Financial Conduct Authority (FCA) earlier this year to serve institutional cryptocurrency clients in the UK, has seen a mass exodus of staff in recent months following the firing of its co-founder and treasurer. In July, Portofino's chief operating officer and co-founder Alex Casimo and chief financial officer Jae Park were both fired. This subsequently triggered the resignation of Vincent Prieur, head of strategy and operations, and Shane O'Callaghan, head of global business development, as well as a large number of employees at the company. According to people familiar with the matter, between 10 and 12 people have left or are in the process since the two executives were fired, accounting for 30% -40% of the company's total workforce at the time.