10 minutes ago, the suspected market maker Portofino Technologies' address withdrew $620,000 of LPT from OKX and Binance, and then charged it to Coinbase.

Switzerland-based Portofino was founded in April 2021 by former Citadel Securities employees. Portofino raised $50 million from investors such as Coatue Management, Valar Ventures and Global Founders Capital in 2021.

A Portofino spokesperson said in an email response to Bloomberg that the company generally focuses on high-market-value tokens traded on the largest cryptocurrency exchanges.

The livepeer forum disclosed that LPT's market-making contract expired at the end of May. Is Portofino its new market maker? $LPT