Former FTX executive launches AI trading platform UpsideOnly

PANews

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Summary

UpsideOnly, a new AI trading platform, has launched with a focus on increasing trading activity across assets such as crude oil, gold, and stocks. The platform uses BayesShield AI to analyze and execute strategies using company funds, sharing 50% of profits with signal providers. Trading volume is expected to grow as the AI model—trained on 220 billion historical trades—scales its operations. Patrick Gruhn, former head of FTX Europe, is seeking hundreds of millions in funding, including $100 million of his own capital, to expand proprietary trading.

PANews, May 19: According to Bloomberg, Perpetuals.com launched its platform UpsideOnly on Tuesday, allowing users to submit simulated trading strategies for assets such as crude oil, gold, and stocks. Its proprietary BayesShield AI selects the most profitable strategies from these submissions, executes them in live trading using the company’s own capital, and allocates 50% of the profits to the users who provided the signals—without requiring users to invest any capital or bear any losses. The model has been trained on 22 billion historical trades. Patrick Gruhn, CEO of the company and former head of FTX Europe, stated that the goal is to enhance execution efficiency through a “human + AI” approach. The company is currently in discussions to raise hundreds of millions of dollars to support proprietary trading, and Gruhn has personally committed $100 million.

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