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Adam Duritza
Chief Development Officer at System1
Technology and Media focused executive with leadership experience over $100M in annual revenue and a track record on over 100 high profile strategy, M&A and business development initiatives in roles of progressive responsibility.
Highlights
Last week was my last at System1, and I am thrilled to share my next step — I am launching a high-frequency hedge fund focused on Crypto and Decentralized Finance (“DeFi”) - called Fleet Digital (https://lnkd.in/edWpk2Dt). Fleet is a market-neutral quant fund officially launching in November focused on arbitrage, market making and “just-in-time” liquidity in the DeFi space. I originally built the platform and initial algorithms as a side project, and it has taken off well beyond my initial expectations, through some insanely turbulent markets. Fleet is now doing about 1,500 trades per day and approximately $6 billion in trade volume each month.
If you got all that right away… let's talk! If you're like, "Say what?", I'll be sharing a lot more here about DeFi and Fleet Digital in the coming days and weeks. But, suffice to say, I am beyond bullish on the opportunity in DeFi. There are a lot of wild headlines about crypto. But beyond the splashy world of Bitcoin billionaires, Matt Damon commercials, and people having their $2 million ape jpegs stolen, there is DeFi — which has weathered the market chaos exactly as intended. Behind the scenes, I believe DeFi is well on the way to becoming the new “rails” of all global financial infrastructure in the future.
On a personal note, it is bittersweet to leave System1, where I have been for the last 3.5 years. System1 has some of the smartest, hardest working, and fun people I have had the chance to work with, and I am just incredibly proud of what we were able to accomplish together. Among other things, we completed six great M&A deals to scale the company dramatically, culminating in taking the company public earlier this year. It’s been a great ride, and in particular I want to thank the crew I got to work with: Michael Blend, Paul Filsinger Tridivesh Kidambi, Beth Sestanovich, Brian Coppola, Stacey Monn-Vudrag, Stewart Marlborough, Daniel Weinrot, Kelly Winternheimer, Eric Piwowar, Ryan May and of course Ian Weingarten.
More to come! Adam
