A free, no-target tournament built around pure PnL.
Mubite has launched Crypto Wars, a free seven-day trading competition where participants trade a $100,000 simulated account on the Cleo platform. Unlike a typical funded-account evaluation, there's no profit target to hit and no minimum number of trading days required. The only thing that matters is maximizing profit and loss over the week. Accounts unlock for trading on September 14, and registration is free.
A hundred winners, not one jackpot.
| Rank | Prize |
|---|---|
| 1st | $200,000 Mubite 2-Step Challenge |
| 2nd | $150,000 Mubite 2-Step Challenge |
| 3rd | $100,000 Mubite 2-Step Challenge |
| 4th – 5th | $50,000 Mubite 2-Step Challenge each |
| 6th – 10th | $25,000 Mubite 2-Step Challenge each |
| 11th – 50th | $10,000 and $5,000 Mubite 2-Step Challenges (exact split by rank not published) |
| 51st – 100th | Mubite Points |
Mubite says the combined value of the top-100 prize pool exceeds $1,000,000. Separately, the firm is running a Gleam social-media campaign where completing promotional tasks enters traders into 10 random draws for $10,000 challenge accounts each, on top of the ranked prizes.
Loose on structure, strict on drawdown.
The tournament drops the usual evaluation scaffolding, no profit target, no minimum trading days, but keeps risk limits firmly in place: a 5% daily drawdown ($5,000) and a 10% total drawdown ($10,000) on the $100,000 simulated account. That combination rewards a trader who can generate returns aggressively within a defined risk ceiling, rather than one who simply survives a fixed evaluation period.
A $1 million headline built from a hundred smaller checks.
Unlike some prize-pool headlines that inflate a single winner's take by summing unrelated tiers, Mubite's math checks out reasonably well once the full structure is counted: a $200K top prize, descending awards down through rank 50, plus ten separate giveaway accounts. It's a genuinely broad distribution, a hundred-plus people can walk away with something, which is a different design goal than a winner-take-most structure.
The trade-off is that the free entry and social-media giveaway layer functions as a marketing funnel as much as a skill competition. Combining a real trading contest with a Gleam-style engagement campaign is a common way to convert a tournament's reach into signups and social following, worth keeping in mind alongside the trading rules themselves.
Questions, answered.
Sources
- The Godfunded, Mubite Launches "Crypto Wars": Free Trading Tournament with $1 Million in Prizes, September 10, 2026.
