Former FTX Europe head launches no-capital investment platform UpsideOnly

Patrick Gruhn, the former head of FTX Europe, has launched UpsideOnly, a platform that allows users to profit from trading without investing any of their own capital, Bloomberg reported. The platform uses AI to analyze crowdsourced simulated investment strategies and execute the most promising ones with real money. Users predict asset prices and make virtual trades, and the platform's proprietary AI selects the strategies with the highest probability of success to fund with its own capital. Any profits generated are split evenly with the trader who provided the strategy, while the platform absorbs all losses. Gruhn explained that while predicting the market itself is nearly impossible, it is possible to predict the outcomes of human trading based on historical data. He stated that traders contribute their time and expertise to train the AI instead of cash, with the company bearing the full risk of loss. Gruhn added that he has already committed $100 million of his own assets to the trading pool.