Ex-FTX Executive Launches AI Trading Platform UpsideOnly on May 19

According to Bloomberg, Patrick Gruhn, former head of FTX Europe, launched UpsideOnly on May 19 through Perpetuals.com. The platform allows users to submit simulated trading strategies for various assets, with the company's proprietary BayesShield AI model selecting the most profitable ones to execute using company capital. Profitable trades generate a 50% revenue share for users without requiring them to invest capital or absorb losses. The AI model was trained on 22 billion historical trading transactions. Gruhn stated the goal is to enhance execution efficiency through human-AI collaboration. The company is raising hundreds of millions of dollars to support proprietary trading operations, with Gruhn personally committing $100 million. The platform does not custody user funds.
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