Jump Trading sues ex-employee for starting rival business

Jump Trading filed a lawsuit against former software engineer Liam Heeger, alleging he breached his contract by secretly founding the competing company Unto Labs after resigning in November, The Block reported. Jump claimed Heeger raised $3 million within a month of his resignation at a $50 million valuation, violating non-competition obligations. Unto Labs denied the allegations, stating their actions comply with industry norms.