Patrick Gruhn used to work at FTX Europe. Now he’s launched UpsideOnly. It’s a trading platform with a wild promise: profits without risk, according to Bloomberg.
Here’s how it works. Users submit paper trades. The company deploys its own capital. An AI picks which strategies to execute. All real money comes from Perpetuals.com.
The platform crowdsources trading predictions. Oil, gold, equities. Users make simulated bets. The AI evaluates the signals. It identifies strategies it thinks will win. Perpetuals.com places actual trades using only company funds. No user money at risk.
Trades generate returns? The firm splits profits 50/50. But only with users whose predictions led to winning positions.
“The goal is to harness crowd intelligence without exposing users to financial risk,” Gruhn said in the press release.
It’s a departure from conventional retail trading apps. And crypto exchanges. Those platforms? Customers bear direct losses on failed bets. Here, users don’t put up capital. Their trading ideas prove wrong? No downside.
The platform converts amateur market insight into investable signals. Through AI-driven curation.
The launch comes as former crypto executives rethink trading products. FTX collapsed. Speculative bets cost retail traders heavily. Gruhn worked at FTX Europe. He’s among those trying to rebuild credibility. Stronger risk controls this time.
The approach reflects a broader trend. Artificial intelligence meets crowdsourced investing strategies. UpsideOnly removes capital requirements. That could appeal to traders who want market exposure. Without financial risk.
But the business model has a catch. Success hinges entirely on whether the AI can consistently identify profitable trades. From user submissions. And whether Perpetuals.com can sustain losses. The algorithm selects poorly? The company eats it.
Can the no-loss promise scale? That’s an open question.
The platform enters a competitive landscape. AI-driven trading tools are proliferating. Investor skepticism toward crypto-adjacent ventures remains elevated. Multiple high-profile industry failures will do that.
