- James Wynn, a trader on the Hyperliquid platform, faced nearly $100 million in liquidations after Bitcoin dropped below $105,000.
- Liquidations included two large long leveraged positions totaling 949 BTC, according to onchain data verified on May 30.
- Wynn had increased his leverage to a 40x long position of $1.25 billion on May 24, which suffered losses following market downturns.
- He acknowledged his high-risk strategies on social media, describing himself as an “extreme degenerate” and warning others against following his approach.
- Despite the losses, Wynn maintains an open leveraged position, which currently holds an unrealized loss of $3.4 million.
James Wynn, an active trader on Hyperliquid, saw his Bitcoin long trades liquidated for almost $100 million after Bitcoin’s price fell below $105,000 on May 30. Wynn’s positions, which relied on borrowed funds to maximize potential gains, were automatically closed as the cryptocurrency hit a 10-day low.
Onchain data from the analytics platform Hypurrscan shows that Wynn lost two major positions: one of 527.29 BTC worth $55.3 million was liquidated at $104,950, and another of 421.8 BTC worth $43.9 million closed at $104,150. An additional 94 BTC position, worth about $10 million, was liquidated at $106,330 on May 29.
Platforms including Lookonchain and Arkham Intelligence reported Wynn’s losses totaling 949 BTC over the past week. TradingView data showed Bitcoin briefly dropped to $104,630 on Coinbase, with even lower values seen on other exchanges.
Wynn had raised his leveraged bet to a 40x position valued at $1.25 billion on May 24. The bet suffered after news of possible U.S. tariffs from President Donald Trump triggered a broader market decline. Wynn responded to the liquidations with a cryptic post on X, referencing a scene from the 1999 film The Matrix.
According to Hypurrscan, Wynn still holds an open, highly leveraged long position on Bitcoin. This trade, opened when Bitcoin stood at $107,993, is now at an unrealized loss of $3.4 million.
Wynn became well-known for his earlier gains in memecoin trading, especially with his investment in the Pepe (PEPE) token. Before the liquidations, Wynn described himself on social media as an “extreme degenerate” taking high-risk trades, saying, “I do not follow proper risk management, nor do I claim to be a professional; if anything, I claim to be lucky. I’m effectively gambling. And I stand to lose everything. I strongly advise people against what I’m doing!”
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