August 22, 2021

Floating Point Group

⚾ The Elevator Pitch:

Floating Point Group (FPG) has created a single-point-of-access utility for algorithmic cryptocurrency trade execution. You can think of FPG like a high-frequency hedge fund but specifically for cryptocurrencies. They partner with huge clients, that transact billions of dollars annually, and built out tooling for those clients to easily and securely trade cryptocurrencies like Bitcoin, Ethereum, DOT, ADA, XLM, BNB, and more.

Their platform has remarkable speed and reliability β€” which are measurements that are quite important to hedge funds. In the past, Corporate Treasury, Asset Managers, Blockchain Projects and other asset holders have utilized FPG for their needs. In general, FPG is uniquely positioned where they have a robust & effective high frequency trading platform years before cryptocurrencies hit the mass markets β€” they are at the right time, at the right place.

πŸ‘‡ The Drop Down

School: MIT, University of Missouri-Kansas City
Founded: 2017
Stage: Seed
Tech trend: Cryptocurrencies
Traction: Backed by Tribe Capital, Naval Ravikant, etc, Supports 6+ Cryptocurrency assets, robust platform (13 minutes downtime since January 1st, 2020)
Team - Engineers and dropouts from Top Engineering Schools
Kevin March - Co-Founder
John Peurifoy - Co-Founder
Van Phu - Co-Founder

πŸ” Our analysis

  1. πŸ“ˆ Huge + Unrealized Market
    Although cryptocurrencies have dated back all the way to 2013, it wasn’t until recently when huge institutions like BlackRock have bought a stake in this asset class. Hedge funds, companies, and wealthy individuals often want to hedge their bets on diverse assets but do not necessarily have the experience, or expertise, to manage it effectively. FPG has a role to play, that they are already exceeding expectations at.
  2. πŸƒπŸΌβ€β™€οΈ They have a head start
    The team at FPG has been working on making this vision a reality since late 2017 β€” almost a 3 year head start to anyone starting work on automated crypto trading today. The technology, platform, and relations they have built out will play as an unfair advantage for this team. Additionally, they already support crypto assets that are not even mainstream yet like ADA and DOT. Quite a forward thinking team.
  3. 🧼 But… is this a β€œbubble”?
    A common criticism of cryptocurrencies as a whole is that it is one big $2 trillion bubble. If it is a bubble, and the bubble pops, it could be a huge loss for not only FPG, but all cryptocurrency companies as a whole. Cryptocurrency is here to stay, but as to what extent? β€” only time will tell.

🀝 Want more?

  1. Check out their product here
  2. They are hiring engineers! Join them
  3. Check out their blog about fintech and cryto
  4. Check out their features on Forbes, Yahoo! Finance, & Business Insider