“Denis Dariotis, the youthful founder and CEO of cryptocurrency-focused trading software firm GoQuant, talks about building a billion-dollar-a-day trading startup during his formative years.”, — write: www.coindesk.com
“I remember telling my teachers I had to take 10 minutes out of class to check my portfolio when the market opened and closed,” Dariotis said in an interview.
The child trading prodigy recalled how a teacher wanted to see his computer screen and what he was trading. But he shut the laptop saying, “No, I’m afraid that’s private” — an interesting presage of the crypto-focused dark pool app Dariotis released just last month.
Dariotis grew up in Montreal, where his earliest memory of the trading world was being attracted to the symbols flashing green and red on the CNBC morning show his parents had on in the background. It was only a matter of time until he made the connection between the tickers on the TV screen and the money in his piggybank.
From his early days at school, boldly following the investment thesis of Warren Buffet, the next logical step was getting into computer programming. “When I was about 11 or 12 years old, I took an interest in computer programming, starting with basic web development languages, and then evolving into Python and C++,” he recalls.
Listening to the way Dariotis tells it, his evolution towards building trading infrastructure seems the most natural thing in the world. By the age of 13 he realized he was spending too much time scanning a ton of datasets, and wasn’t there some way to use his computing knowhow to automate that process? That way, he could spend more time on researching trading strategies and getting alpha.
Having been hitherto unaware of quant trading, Dariotis began back-testing strategies and researching different elements of portfolio construction, optimization, risk management and “really getting into the weeds of every element of how quant markets operate.”
It wasn’t long before a breakthrough came: At the ripe old age of 15, Dariotis says he basically licensed his strategies and started consulting for a major Canadian bank, which was his first main client. This was followed by a few other investment managers. Later, at a trading and data science conference in New York, a large hedge fund tried to hire Dariotis on the spot.
“But then they were like, ‘Hang on a second, how old are you?’ And then I was like, ‘I’m 15,’ and they sort of freaked out.”
This was also around the time Dariotis started looking at crypto. The initial realization was how retail-oriented crypto markets are, lacking any real institutional-grade infrastructure. Crypto suffered severely from having fragmented liquidity spread across many venues: centralized and decentralized exchanges, OTC desks.
Having applied his data market toolset to crypto, Dariotis saw latency delays in the manner that trading venues updated order books. He realized the best way to go was to build the entire infrastructure stack.
By January of 2025, GoQuant had bagged a $3 million pre-seed round, plus a $4 million seed round led by crypto trading firm GSR. It now handles over $1 billion in trading volume each day, and employs about 80 staff spread across the US, Europe, India, the Philippines and Morocco.
Recent additions to the brand include the GoDark institutional-grade dark pool, and a GoCredit lending platform which has about half a billion dollars of crypto loans in the pipeline.
“We really want to be at the center of how value moves,” Dariotis said. “So we’re largely a tech provider, rather than a financial intermediary, at a point in time where everything is essentially becoming a market: prediction markets, the ‘perpification’ of all sorts of assets, the tokenization of all sorts of assets. Everything is becoming tradable so there is a need for a core platform that connects everything and does so in a performant manner.”
So what’s Dariotis’ advice to other kids who are busily building billion-dollar companies in their bedrooms?
“You have to be flexible, willing to adapt and potentially pivot,” he said. “We started off just handling data and we could have just stayed in our little data world and probably done very well. You want to avoid creating product silos — even if these could be $100 million businesses on their own — when they have the potential to be worth multiples more by building a whole connected ecosystem.”
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Phong Le says Strategy has no near-term debt maturity risk and plans to continue using convertibles and equity to grow its bitcoin position over time.
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