After shedding $100 million on leveraged Hyperliquid trades earlier this 12 months, James Wynn returned to social media to brag about shorting bitcoin (BTC).
Instantly, BTC then rallied to an all-time excessive and liquidated him.
Quickly after his return to X, he confidently opened a 40X bearish leveraged place value about $1.5 million on the time, with a liquidation value of $108,630 per BTC.
Within the hours earlier than Hyperliquid’s market-makers liquidated him, observers referred to as his wager a “bold hedge” and a “massive risk.”
He paid no thoughts. His X posts implied that he genuinely thought BTC’s value would plummet rapidly sufficient to make his harmful quick place value it.
Sadly, BTC rallied towards Wynn, surpassing $116,000 on Thursday. His initially assured “I smell a black swan” rapidly devolved into one other plea for assist, “Got $100 to spare.”
Throughout his fast demise, he managed to advertise just a few obscure memecoins and posted varied controversial political messages.
His X profile now describes him merely as “broke.”
Web trainwreck spotters urged any individual volunteer a wellness examine. Any individual else urged doing the other of what Wynn does, the “Inverse James Wynn.”
Again to $0 for the Hyperliquid degen
Wynn famously made $100 million after which misplaced all of it buying and selling digital asset derivatives just a few months in the past. The gambler even frittered away $20,000 in sympathetic donations he obtained whereas attempting to “defeat the cabal” of market-makers.
His actions throughout this time had been so weird that some individuals suspected him of being some sort of business plant.
Between this most up-to-date liquidation and his earlier large loss on Hyperliquid, his complete losses soared above $20.5 million.
Wynn wasn’t the one loser throughout yesterday’s BTC rally, nonetheless. Pressured liquidations of quick positions from varied merchants exceeded $543 million in only one hour.
