tl;dr
A crypto trader known as James Wynn was liquidated for over $100 million after taking a $1 billion, 40x leveraged long Bitcoin position on the decentralized derivatives platform Hyperliquid. Despite Bitcoin's price remaining relatively stable, Wynn's trade failed, leading to significant losses. Wynn...
Crypto trader James Wynn was liquidated for over $100 million on Hyperliquid after a failed $1 billion 40x leveraged Bitcoin bet despite minimal price volatility.
The liquidation was unusual as Bitcoin's price remained stable, with poor trading decisions cited as the cause.
Wynn, known for high-risk trades and meme coin enthusiasm, gained fame for predicting Pepe memecoin's rise, earning significant profits.
Wynn's Bitcoin position saw a $32 million drawdown before liquidation, and the trader responded with a Matrix-themed post.
Hyperliquid's transparency revealed Wynn's wallet activity, including a $3 million stablecoin deposit and promotion of the meme coin Moonpig.
Wynn denied accusations of dumping Moonpig tokens, stating no sales were made despite investor claims.
A crypto trader known as James Wynn was liquidated for over $100 million after taking a $1 billion, 40x leveraged long Bitcoin position on the decentralized derivatives platform Hyperliquid.
Despite Bitcoin's price remaining relatively stable, Wynn's trade failed, leading to significant losses.
Wynn, who gained fame for correctly predicting the rise of the Pepe memecoin, had a history of high-risk leveraged trading and meme coin promotion.
His recent Bitcoin position had an average entry price of $108,000 and experienced a $32 million drawdown.
The trader responded to the liquidation with a Matrix-themed post.
Wynn has also been involved in promoting the meme coin Moonpig, denying accusations of dumping its tokens.
A crypto trader has reportedly been liquidated for over $100 million following an initial $1 billion leveraged Bitcoin position on the decentralized derivatives platform Hyperliquid.
The trade—tied to a wallet beginning with "0x507" and tagged as belonging to James Wynn by Arkham Intelligence—had been closely watched after Wynn built a 40x leveraged long position last week.
He bet Bitcoin's price would continue to climb, but the bet unraveled despite a lack of volatility in Bitcoin’s price.
Bitcoin is currently trading at $106,020, down 1.9% over the last 24 hours.
Another trader, Pentoshi, noted the liquidation was different from other leveraged blowups because Bitcoin’s price moved only within a 2% range.
Pentoshi said Wynn kept trading poorly and ultimately was liquidated to zero, warning that large positions are best traded quietly.
Wynn, known on X as JamesWynnReal, earned notoriety after predicting Pepe memecoin's rise to a $4.2 billion market cap, making over eight figures.
Pepe later peaked at over $11 billion market cap in December 2024.
Wynn’s Bitcoin position had an average entry at $108,000 with a $32 million drawdown amid price fluctuations.
Following liquidation, Wynn posted a Matrix still showing Neo stopping bullets.
Hyperliquid, built on Arbitrum, is noted for high-speed trading and wallet activity transparency.
Wynn's wallet deposited $3 million in stablecoins two months ago on Hyperliquid.
He also regularly promotes the meme coin Moonpig and its related game Moonrush.
Despite accusations, Wynn denied ever dumping Moonpig tokens, stating no sales were made.