KoolKrypto
Mined Bitcoin in high school, opened a fund a month before the Luna crash, and made more shorting HYPE than holding it.
- Est. PnL
- ~$35M
- Location
- US
- X signup
- Top 100 all-time Hyperliquid PnL, now risking $1M to win $47M on ETH reaching $7,000
- Mined bitcoin in high school in 2010, sold it in 2015 to start businesses, then borrowed against those businesses to buy his way back into crypto in 2017
- Met his LPs at a high-stakes poker table in 2021 and opened the fund a month before the Luna crash, then shorted the collapse across new dYdX accounts
- Asked Derive to list a gold expiry, had it fifteen minutes later, and ten minutes after that was holding about $8.5M of gold spreads
- Sold the Lighter airdrop at its TGE and spent months calling the venue Temuliquid, then bought back 50 to 70% lower and now lists it among his largest holdings
Notable trades
ETH
Sep 2026
Open, $47M max
March 2027 call spreads on Derive that pay in full if ETH is at or above $7,000 at expiry. Derive's CEO posted the first 10,000 on 10 September 2026, and he claimed them the next day. He added 3,500 on a dip on 13 September, for 23,500 in total: about $1M at risk against a $47M maximum.
BTC
Aug 2026
+$3.55M marked
$70,000 September calls on Derive, bought after weeks of arguing that BTC volatility sat in the bottom 5% of its history, which made the options cheap. The premium went from $1,184.20 to $9,641.09, and he posted the card on 26 August 2026 at +$3,551,894.59.
SOL
Jun 2026
+$1.12M marked
$100/$150 September call spread on Derive, bought near $1.63 around June 2026 with SOL under $70, in the same hour he closed his SOL puts. He posted the card on 27 August 2026 marked at $10.60, +$1,124,113.00, and described the trade as risking a few hundred k to make millions.
XAUT
Aug 2026
Undisclosed
Gold call spreads on Derive. He asked the venue to list a gold expiry, had it fifteen minutes later, and ten minutes after that held 1,000 September spreads, about $8.5M of gold. He followed with October XAUT spreads he framed as risking about $130k to make $1.5M. No result has been posted.
DRV
Feb 2026
Open
Bought DRV at $0.04 on 3 February 2026 and kept buying after it doubled to $0.08. The pinned thesis valued the venue at $100M against a base case of $250M to $500M, with a path past $1B if onchain options grow into any real fraction of the perps market. No result posted.
HYPE
Since 2023
Undisclosed
Short HYPE against his own spot. HYPE was his largest holding from late 2023, at times more than half the book, and he puts more than half of his Hyperliquid profit down to the shorts he ran against it rather than to the coin itself.
LIT
2026
Open
Sold the Lighter airdrop at its TGE, spent months calling the venue Temuliquid, then bought the token back 50% to 70% lower and made it one of his largest holdings.
LUNA
2022
Undisclosed
Shorted Luna on dYdX through its collapse, a month after the fund opened, to hedge the fund's exposure. He spread the short in 10,000-token lots across accounts he was still opening as the price fell. No figure was posted.
Trading style
Tokens as businesses, options as the expression. The core book is a short list of venues that collect trading fees, held spot and 90% to 95% staked for alignment rather than yield. A token has to answer four questions: whether he can see it double and the next buyer justify another double, what it is worth against the size of the market it is chasing, whether the token itself gets paid if the thesis works, which rules out almost anything with a separate share class, and what the market is missing that he is not. He reads governance posts, fee tables and product interfaces rather than charts, and calls the result long the casino tokens.
Views go on as option spreads with a fixed maximum loss, premium usually under 1% of the portfolio, held for weeks, on three to five names at a time. He calls options the most honest form of trading theatre, because size that is faked gets eaten by the spread. He keeps 20% to 80% of the book at risk and the rest as dry powder. When stablecoin supply stops growing he reads it as no new money arriving, and bets one coin against another instead of on the market. He sells points-program airdrops at the TGE and buys back later if the product holds up.
He changes a published view inside a day when the facts move, under the rule gotta stay nimble, and argues that most discretionary traders make the year in three to five trades and bleed the rest of the time, which is why he ignores monthly win rates. The influences he names are high-stakes poker, whose game theory he thinks should be taught in high school, and AI, which he credits with a visible jump in his PnL.
Quotes
“Nobody knows what price will do, that's not actually what profitable trading looks like. A lot of the bets I'm taking right now lose money 90% of the time but are 20x returns if they hit and that's obviously extremely EV+.”
“If you can't flip bullish on the coins you spent months dunking on when fundamentals improve, you won't be able to flip bearish on the coins that made you paper rich when fundamentals deteriorate.”
“There are very few people I know who made a million and didn't go broke first before making millions later.”
“Perps are amazing in ranging regimes, but options are the GOAT for betting on big cycle bottoms/tops.”
“Crypto is really just the transfer of wealth from the impatient to the patient.”
Interviews
Contributors
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