In this episode of The Flow, Konstantin Shulga, CEO of Finery Markets, welcomes Yuriy Sorokin, Founder and CEO of 3Commas, for a deep dive into how retail automation has evolved over the last decade and where it’s headed next. What began as a simple portfolio tool in 2017 has grown into one of the most widely used no-code trading automation platforms in the crypto ecosystem, powering billions in monthly trading volume across global exchanges.
Yuriy shares the origins of 3Commas, from early Bitcoin and Ethereum mining days to scaling a company through multiple bull and bear cycles, while unpacking the major structural shifts reshaping today’s markets. The conversation covers the rise of managed-account tooling, the fragmentation of liquidity across CEXs and hybrid venues, and how MiCA is redefining what it means to “execute on behalf of users” in Europe.
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Highlights
Building a No-Code Automation Ecosystem
What started as a simple interface for portfolio tracking has evolved into a full-scale no-code automation platform used by hundreds of thousands of traders globally. Yuriy explains how 3Commas grew into a multi-integration execution layer—connecting to over 15 exchanges, handling sophisticated order logic, and enabling traders to build, test, and automate strategies without writing code.
The Pivot to Managed Accounts
A major turning point came when 3Commas discovered that 90% of trading volume was coming from just 5–7% of users—typically semi-professional traders or crypto-native asset managers. To serve this segment, 3Commas built secure tooling for managed accounts, enabling asset managers to control multiple client accounts while maintaining user custody. By offering secure API key storage, execution routing, and advanced reporting, 3Commas became an operational backbone for retail-oriented asset managers. This B2B layer now sits alongside the company’s DIY tools, expanding its role from automation platform to infrastructure provider.
AI and the Future of Strategy Creation
As user needs evolved, so did the limitations of traditional UIs. Yuriy explains how 3Commas is integrating AI-powered interfaces—“chat-to-trade” and “chat-to-strategy” workflows—to help users describe, refine, and deploy trading ideas without navigating complex parameter screens.
While not a replacement for sophisticated traders, AI becomes a powerful on-ramp:
This hybrid model, AI for accessibility, advanced UI for depth, is shaping the next phase of retail automation.
Fragmentation Across CEX, Hybrid, and DeFi Venues
The conversation highlights a structural shift: market fragmentation is accelerating.
Where users once traded almost exclusively on Binance, today’s landscape includes hybrid exchanges like Hyperliquid, decentralized infrastructure like Aevo and Aevo-style venues, and a patchwork of regional restrictions.
For automation platforms, this complexity creates both challenges and opportunities:
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multi-venue execution becomes essential,
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liquidity thins across regions,
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API differences shape strategy performance,
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and traders increasingly need infrastructure to navigate dispersion.
With stablecoins multiplying and tokenized assets entering the conversation, Yuriy expects fragmentation to intensify before it improves.
Operating Under MiCA and the Licensing Challenge
3Commas is among the first automation platforms navigating MiCA’s requirement that execution on behalf of clients falls under regulatory scope, even for non-custodial software. The company currently serves European users through a licensed Cyprus partner, with plans for its own MiCA license. But as Yuriy notes, true compliance involves more than a single authorization: spot, derivatives, and multi-jurisdictional products each require different licensing regimes. This regulatory reality is shaping where and how 3Commas expands, with the U.S. now representing more than half of its user base.
About The Flow
The Flow is Finery Markets’ branded podcast series, dedicated to exploring the dynamic world of institutional crypto trading. Each episode examines the forces shaping digital asset markets, offering expert insights into market structure, liquidity, infrastructure, regulation, and electronic trading. Hosted by leaders from Finery Markets and featuring voices from across the financial and technological landscape, The Flow provides a clear, thoughtful perspective on the future of trading.
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