Headline: Perpetuals.com, Led by Ex-FTX Europe Head, Launches AI-Powered "UpsideOnly" Trading Platform
Dateline: May 20, 2026, Frankfurt/Tokyo
FRANKFURT/TAIYO — Perpetuals.com, a financial market infrastructure provider founded by former FTX EuRoPE executive Patrick Gruhn, has officially launched UpsideOnly.com, a novel retail trading platform. The launch, which began with a pre-registration waitlist opening on May 19, 2026, introduces a "smarter, safer way to trade" by leverAGIng proprietary Artificial Intelligence and a unique capital structure designed to protect users.
A New Model for Trader Protection
Unlike traditional leveRAGed trading or the prACTices that led to the collapse of FTX in 2022, UpsideOnly operates on a zero-deposit model. Users submit paper trades, and Perpetuals.com utilizes its own corporate capital (with CEO Gruhn committing $100 million to trading activity) to execute these positions. If the trade is profitable, the user and the company split the profits 50/50. This structure eliminates the need for users to deposit Personal funds, thereby rEMOving counterparty risk associated with exchange-held assets.
Unlike traditional leveRAGed trading or the prACTices that led to the collapse of FTX in 2022, UpsideOnly operates on a zero-deposit model. Users submit paper trades, and Perpetuals.com utilizes its own corporate capital (with CEO Gruhn committing $100 million to trading activity) to execute these positions. If the trade is profitable, the user and the company split the profits 50/50. This structure eliminates the need for users to deposit Personal funds, thereby rEMOving counterparty risk associated with exchange-held assets.
AI at the Core: From Kronos X to BayesShield
The platform is underpinned by Perpetuals.com's core Technology stack. The company utilizes its Kronos X® SaaS platform, hosted in Equinix data centers in Frankfurt (FR2) and on the U.S. West Coast, ensuring high-performance matching and 24/7 settlement.
The platform is underpinned by Perpetuals.com's core Technology stack. The company utilizes its Kronos X® SaaS platform, hosted in Equinix data centers in Frankfurt (FR2) and on the U.S. West Coast, ensuring high-performance matching and 24/7 settlement.
Crucially, the launch aligns with the company's proprietary AI capabilities. Perpetuals.com's BayesShield AI model, trained on over 11.7 billion trades, evaluates every new position in real-time. This technology calculates the win/loss probability to shield retail traders from high-risk trades, a feature Gruhn highlighted as central to the product's design.
Market Context and future funding
The launch of UpsideOnly comes as Perpetuals.com is reportedly in talks to raise hundreds of millions of dollars to further expand its infrastructure. The company, which operates a licensed European Multilateral Trading Facility (MTF) with MiFID II APProval, aims to bridge the gap between traditional finance and digital assets by offering regulated, institutional-grade technology to retail users.
The launch of UpsideOnly comes as Perpetuals.com is reportedly in talks to raise hundreds of millions of dollars to further expand its infrastructure. The company, which operates a licensed European Multilateral Trading Facility (MTF) with MiFID II APProval, aims to bridge the gap between traditional finance and digital assets by offering regulated, institutional-grade technology to retail users.
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