Hyperliquid trader loses $100M after betting big on Bitcoin. A crypto trader, who identifies himself as James Wynn on X, took a $1 billion position on Bitcoin on the decentralized derivatives platform, only to see his position get liquidated for over $100 million. The high-risk trader set a 40X leveraged long position on Bitcoin, betting the price would continue to climb. However, according to Pentoshi, a pseudonymous crypto commentator, “[Bitcoin has] been in like a 2% range and this guy just kept trading poorly getting chopped to 0.”
Pentoshi further pointed out that the case with Wyn was quite different from any other. “Watching this take place is basically how I’ve seen almost every leverage trader blow up over time. Well, this one is a bit different. But the gist is that you get into a position, a losing one, and you are never willing to let it go.
Eventually, the market turns against you, and you just keep adding collateral to this position until one day, you’re entire account is gone
In this case, he went from $0 on this account pnl to $88m to negative 14m (after continually selling other spot assets in his accounts to add collateral)”, stated Pentoshi.
According to Pentoshi, Wynn was quite loud about his bet and his position, garnering him unwanted attention. However, Wynn posted a still image of the protagonist, Neo, from The Matrix, catching a barrage of bullets fired at him, as a reply to the liquidation.
