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Per a recent report, hedge fund and market maker behemoth Citadel is suing two former executives. The individuals identified as Leonard Lancia and Alex Casimo broke off from the company to start a high-frequency trading firm called Portofino Technologies. 

According to the lawsuit filed by Citadel Securities, Lancia, former Head of Europe Systematic Market Making for Derivatives, and Casimo, Business Manager for the firm’s Europe team, tried to raise capital for their firm while still working at the hedge fund. Thus, the individuals allegedly breached their agreement with the company as they still have access to proprietary information.
Citadel Securities is one of the world’s largest and most prominent hedge funds; its proprietary products allow it to gain an edge over its competitors. Last year alone, the hedge fund scored over $16 billion in profit while the rest of the market trended to the downside.
Therefore, the company jealously protects its intellectual property. After examining the exact monetary damages for Lancia and Casimo’s alleged actions, the hedge fund seeks potential restitution.

Crypto Execs Stole Trading Secrets From Citadel?
In 2022, Portofino founders, Lancia and Casimo, claimed to have secured around $50 million to launch their crypto trading firm. The crypto firm was launched to provide liquidity for institutions and whales in the nascent sector.
When the executives left the firm, Citadel Securities launched an internal investigation. As a result, they found a pitch deck from Portofino’s fundraising stage.
The pitch was dated “months before the pair announced their intent to leave the firm,” the complaint noted. The investigation found that Casimo and his partner offered information about Citadel’s proprietary trading techniques, including High-Frequency Trading (HFT).
Per the report, the hedge fund, worth over $50 billion, stated the following in the complaint:
(…) engaged in a brazen scheme to steal Citadel Securities’ trade secrets, lie to their Citadel Securities colleagues and raid the ranks of Citadel Securities’ employees.

As of this writing, neither Casimo nor Lancia has replied to the lawsuit or the allegations presented by Citadel Securities.
Cover image from Unsplash, chart from Tradingview


Per a recent report, hedge fund and market maker behemoth Citadel is suing two former executives. The individuals identified as Leonard Lancia and Alex Casimo broke off from the company to start a high-frequency trading firm called Portofino Technologies. Related Reading: Optimism (OP) Trading Vo...

newsbtc.com

Citadel Strikes Back: Sues Crypto Executives Over Trading Secrets


Think of it like Mario Maker, but way more violent…



Last month, developer Cloudhead Games launched an open beta for Pistol Mix, an official PC modding tool for its popular VR rhythm game Pistol Whip that allows you to craft your own original levels from the ground up.



You can select the audio track, choose where to place enemies, customize the environment, adjust lighting and color, and implement a number of special fx. Once you’re finished creating you can share your masterpiece with other players online via mod.io. You can also browse through and play a catalog of “Remixed” Scenes developed by other players.



Credit: Cloudhead Games via YouTube


“From new reimaginings of iconic game experiences, to sheer meme madness, the ability to mod VR games has become a beloved backbone of the community,” said the team in an official release. “The team at Cloudhead Games is thrilled to throw open the doors to the VR modding community, inviting them to remix this classic game to their own unique beat, and create the Scenes of their dreams.”



The full version of Pistol Mix was originally scheduled to launch on May 31st, 2023. Since then, however, the team has chosen to extend the open beta, pushing the final launch date to June 14th, 2023. The full release will also include an update that allows PC VR as well as Meta Quest players the ability to browse and install Remixed scenes directly in-game, rather than having to deal with manual installs. 









“The Pistol Mix Open Beta was extremely successful and resulted in excellent feedback from our modding community,” said the team in a follow-up post. “By extending the Beta and the release date for the tool by two weeks, our team will be able to improve Pistol Mix with new features and a polished user experience.”



As previously mentioned, Cloudhead Games is currently hosting an open beta for Pistol Mix. Those interested in learning more can visit here. You can also check out the official Discord for additional details and updates.



Feature Image Credit: Cloudhead Games
The post Pistol Whip’s VR Modding Tool Launches This June appeared first on VRScout.


Think of it like Mario Maker, but way more violent… Last month, developer Cloudhead Games launched an open beta for Pistol Mix, an official PC modding tool for its popular VR rhythm game Pistol Whip that allows you to craft your own original levels from the ground up. You can select the audio tra...

vrscout.com

Pistol Whip’s VR Modding Tool Launches This June

Hardware wallet maker Ledger is facing significant backlash for its recent introduction of a tool enabling users to back up their seed phrases through the transmission of encrypted key fragments to third-party firms. The crypto community has not embraced this new feature, with numerous digital currency users venting their frustration on social media platforms.
Ledger’s Backup Tool Sparks Outrage in Crypto Circles
In a recent move, hardware wallet manufacturer Ledger unveiled their latest tool, Ledger Recover. Unfortunately, the reception within the crypto community has been far from positive.

“Ledger Recover is an optional subscription for users who want a backup of their Secret Recovery Phrase,” the company stated on May 16. “You don’t have to use it, and can continue managing your recovery phrase yourself if that’s why you bought a Ledger.”
By utilizing Ledger Recover, users have the option to divide their seed into three encrypted shards, each containing a portion of the private key. These encrypted fragments are subsequently entrusted to third-party companies for secure storage. The hardware wallet company explains:
Ledger Recover encrypts a version of your private key and splits it into three fragments (using Shamir Secret Sharing) – all of this happens on the Secure Element chip, so your Secret Recovery Phrase is not at risk. These encrypted fragments are stored by 3 different parties on cryptographically-secure Hardware Security Modules.
The announcement sparked a significant wave of discontent among cryptocurrency users. “Epic Fail,” one user responded to Ledger’s announcement on Tuesday. Bitcoin proponent Alistair Milne told his 126,000 Twitter followers: “Sure, you *could* use Ledger’s new ‘Recover’ service and give them your private keys controlling your assets as well as a copy of your ID and other personal information … but why bother with a hardware wallet in the first place?”
By 4:00 p.m. Eastern Time on Tuesday, the name “Ledger” had surged in popularity, garnering 224,000 tweets in the Business and Finance category on Twitter. Notably, Mudit Gupta, an executive at Polygon Labs, vehemently criticized the recovery tool service.

“Ledger just released a new update for Nano X that allows social recovery of your seed phrase,” Gupta said. “It encrypts your seed in 3 shards and sends it to different entities that can then reconstruct the seed for you post ID verification. It’s a horrendous idea, DON’T enable this feature.”

The Twitter user Foobar told his 131,000 Twitter followers to boycott Ledger products. “Stop using Ledger hardware wallets,” Foobar tweeted. “Migrate away from them immediately. They’ve shown nothing but gross incompetence and wild misunderstanding of their own purpose. And now they’ve publicly admitted to intentionally backdooring their own proprietary hardware. Stop using Ledger.”
Ledger was also accused of deleting a tweet that it added to the announcement thread. “I have personally used Ledger hardware wallets for about 7 years. Today is the first day I’ve decided to look elsewhere,” the Youtuber Colin Talks Crypto told his Twitter followers on Tuesday.
What are your thoughts on Ledger’s controversial backup tool? Do you believe there are better alternatives available, or do you see potential in this approach? Share your insights and opinions in the comments section below.


Hardware wallet maker Ledger is facing significant backlash for its recent introduction of a tool enabling users to back up their seed phrases through the transmission of encrypted key fragments to third-party firms. The crypto community has not embraced this new feature, with numerous digital cu...

news.bitcoin.com

Ledger Faces Backlash for Controversial Backup Tool as Crypto Community Expresses Discontent

Top US crypto exchange Coinbase has added a Cosmos (ATOM)-based decentralized finance (DeFi) project to its listing roadmap, giving the altcoin a price boost amid the ongoing market doldrums.
Coinbase customers could soon trade Osmosis (OSMO), an automated market maker (AMM) protocol built on the Cosmos software development kit (SDK) that aims to enable cross-chain transactions by utilizing inter-blockchain communication (IBC).

Explains the project’s website,
“Osmosis allows users to launch liquidity pools with unique parameters, like bonding curves and multi-weighted asset pools. The incentive structure of Osmosis is also adaptable. Governance implements liquidity reward (LP) rewards for specific pools, allowing for strategically targeted incentives.
Osmosis is a fair-launched, customizable automated market maker for interchain assets that allows the creation and management of non-custodial, self-balancing, interchain token index similar to one of Balancer.”
Osmosis’ native governance token, OSMO, was trading around $0.7325 on Wednesday before the Coinbase announcement and has since shot up to $0.8106 at time of writing, a more than 10% increase.
Despite the recent price gains, however, the 101st-ranked crypto asset by market cap remains nearly 93% down from its all-time high of $11.25, which it hit in March 2022.
Coinbase created the listing roadmap last year to increase transparency and reduce the possibility of front-running their listing announcements.
It’s not the only major exchange to roll out support for OSMO. Last October, Binance listed the altcoin in its “Innovation Zone,” a dedicated trading space for crypto assets that could be more prone to rapid price swings.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
The post Cosmos-Based DeFi Project Trends Upwards Amid News of Possible Coinbase Listing appeared first on The Daily Hodl.


Top US crypto exchange Coinbase has added a Cosmos (ATOM)-based decentralized finance (DeFi) project to its listing roadmap, giving the altcoin a price boost amid the ongoing market doldrums. Coinbase customers could soon trade Osmosis (OSMO), an automated market maker (AMM) protocol built on the...

dailyhodl.com

Cosmos-Based DeFi Project Trends Upwards Amid News of Possible Coinbase Listing

First unveiled at CES 2022 early last year, Canon has now taken its first step into consumer VR software with Kokomo, its fledgling social VR platform. Compared to more full-featured collaboration apps, Kokomo isn’t there yet, but it’s a start in a new direction for Canon, which up until now has been mostly focused on XR hardware aimed at enterprise.

The Japanese optics and imaging giant announced that early access to its Kokomo social collaboration software for Quest 2 is now available in beta in the US and Canada.
If you didn’t hear about it at CES 2023 back in January where it had a pretty big outing, here’s how it works: you first use a mobile companion app to scan your face while making several expressions to generate a model of your head. Combined with the camera on your phone, you invite a friend to jump into Kokomo’s social VR environment where your avatar is essentially a mixed reality projection of you, replete with that face scan you did earlier to cover where the Quest 2 would normally obscure your eyes.
Realistically, the app still needs a lot of work. There are only a few virtual environments, which although plush, are simple backgrounds without much utility beyond looking nice. Moreover, the face scanning and projection on the mixed reality avatar feels a little too uncanny to give that face-to-face vibe the Japanese tech giant is going for right now. The fail state of Kokomo’s headset replacement is pretty funny too, as your mug can sometimes end up pasted awkwardly in mid-air.
Kokomo failing to position a face scan correctly | Image courtesy TechCrunch
Granted, it’s still in open beta, so we’re hoping to see some improvements in the near term before considering it over professional collaboration apps like Meta’s Horizon Workrooms, Spatial or Immersed.

And why Canon? The Japan-based company accounts for nearly half of all global camera sales, putting it in a good position to look for ways to integrate its high-quality optics in service of metaverse immersion. For now, it’s far from the most functional social collaboration tool we’ve seen, although the company’s commitment to sidestepping some of the inherent weirdness of avatars today (Zuckerberg has fake legs for you) by using what you already have in your pocket may show some real results with time.
Contrasted with something like Google’s Project Starline, which provides a stereo correct 3D chatting experience thanks to its host of sensors, light-field display, spatial audio, and computer vision—more akin to a telephone booth from the future—Canon’s Kokomo certainly takes accessibility to heart.
On the flipside, Canon has a number of XR devices which are largely focused on the Japanese enterprise market. Its most recent MREAL mixed reality headset is still very expensive—think 10s of thousands of dollars—making Kokomo the first step in an entirely new direction for the company.
We’ll be checking in on Kokomo as it progresses in the coming months. In the meantime, you can try it out for yourself by downloading the free app on Quest’s App Lab, and free companion app for either Android or iOS device.


First unveiled at CES 2022 early last year, Canon has now taken its first step into consumer VR software with Kokomo, its fledgling social VR platform. Compared to more full-featured collaboration apps, Kokomo isn’t there yet, but it’s a start in a new direction for Canon, which up until now has ...

Maker price	$672.48
Low - High 24H	$657.53 - $674.68
Market cap	$606.10M
Volume 24H	$11.39M
All time high	$6,292.31 -89.30% May 3rd 2021
All time low	$168.36 299.73% March 16th 2020
Genesis date	N/A

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