James Wynn, the flagship trader of Hyperliquid, lost nearly $110 million in just a few hours due to a series of liquidations on Bitcoin.
His long position reached $1.25 billion on 40x leverage, with over 11,500 BTC engaged at an average price of $108,243.
He still holds a residual position of $167.5 million at risk and now criticizes market corruption by advocating for holding BTC spot.
The Legend of James Wynn Crumbles and Collapses
One of the most prominent traders on the Hyperliquid platform has just experienced one of the biggest trading disasters of the year. James Wynn, known for his ultra-leveraged bets on Bitcoin and memecoins, saw more than $100 million evaporate in just a few hours, falling victim to the brutal market volatility.
Series of Liquidations Amid Correction
Everything changed this Friday: as Bitcoin slipped below $105,000, a series of liquidations hit Wynn’s positions. In total, 1,044.63 BTC were liquidated, resulting in nearly $110 million going up in smoke, according to Hypurrscan data.
In detail: 527.29 BTC liquidated at $104,950 (55.3M), followed by 421.8 BTC at $104,150 (43.9M). And a final wave two hours later: 95.51 BTC erased at $104,620 for a $10 million loss.
A $1.25 Billion Bet… on 40x Leverage
The trader had taken a massive bullish position. On May 21, he initiated a long position of $830 million on BTC, equivalent to 7,764 BTC purchased at $105,033. Four days later, he pushed the limit even further: his position reached $1.25 billion, with 11,588 BTC at an average price of $108,243, all on 40x leverage.
However, the shock announcement of Donald Trump, 50% tariffs on European exports, derailed the market. As the American president insisted while two judges sought to block the tariffs, Bitcoin corrected violently, forcing Wynn to liquidate in a chain reaction.
Still $167 Million in Limbo
Despite the colossal loss, Wynn does not give up. He still holds a long position on BTC of 1,591.82 BTC, valued at $167.49 million, still on 40x leverage. His liquidation price: around $104,530. It means that at the slightest market tremor, everything could collapse again.
Meanwhile, he has now placed a $12 million long bet on PEPE.
On X, the trader did not mince words: “One thing is certain: I have exposed how corrupt these markets are. Better to buy BTC spot and keep it cold.”
