Flood

Bought Bitcoin in 2014, co-founded Insilico Terminal, a nine-figure execution desk, now runs Ramiel Capital.

activePerpsOptionsVenue bets

Est. PnL: ~$90M
Location: New York; Irish-American

Story

Ramiel

Bought Bitcoin in 2014, ran BitMEX basis for a family office, then started his own book with $14,000 and a claimed IRR above 70% in most years
Rolled a $500k+ Milady airdrop into HYPE and says one wallet is up over $30M on spot purchases alone
Short into the 10 October 2025 crash, which he called the firm's best trading day
Ran the Crypto Cartel, a free Discord past 50,000 members, and never charged for it
Co-founded Insilico Terminal with Trip, a nine-figure-volume execution desk, sold his shares back in 2025, now running Ramiel Capital and building fullstack.trade

Notable trades

HYPE

Mar 2024

>$30M claimed

Spot HYPE, accumulated from March 2024, with the November 2024 airdrop and a $500k+ Milady airdrop rolled in. On 27 August 2026 he offered to bet $1,000,000 that one wallet held over $30M of PnL from spot purchases alone. No address and no token count published.

HYPE

Apr 2025

~$11.2M max

40/60 year-end call spreads, over $1M in premium placed through Flowdesk. Published payoff $11,235,157.20 above $60, break-even $41.64, premium written off below it. He framed it as long 612,000 units of HYPE against 277,777 on a $1M 5x perp, with no liquidation and no funding. HYPE traded through $60; in March 2026 he said it had printed.

HYPE

2025

~+98% YTD

Long HYPE and BTC at 60/40 against equal-weight shorts in ARB, ONDO, TIA, WLD and SEI. His 30 September 2025 scorecard put the longs about and the shorts about , for a book near before funding.

Trading style

Concentrated directional positions, taken in perps by default and in options when he wants defined risk. He publishes the framework as Kingmaker, a rotation: BTC first, ETH when the ETH/BTC ratio falls, then the cycle's narrative names, then back to BTC or cash. The 2025 version dropped the middle steps: long HYPE and BTC, short everything issuing supply.

He attributes his sizing to poker, and works in expected value and ranges. The first step of taking a trade is to set the stop loss. He repeats the phrase strong convictions loosely held, and locates the edge in exiting an invalidated thesis rather than in picking the right one.

Since 2024 the expression has been the venue rather than the token: long the exchange that captures the flow, short the assets issuing supply against it.

Quotes

“The first step of taking a trade is to set the stop loss.”

“How can you look at financial markets and not think it's the greatest game of poker ever.”

“If you're sitting on uPnL that's life changing you need to sell. Full stop.”

“All that matters is if you have edge, if you're realizing profit and taking it off exchange.”

“Huge portfolios, just like life, is just the sum of massive amounts of small +EV decisions”

Interviews

Contributors

trox

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