A leveraged whale James Wynn, who operated with high-leverage contracts and increased 400,000 USD to 100 million USD in just one month, closed his position at a loss during this morning's Bitcoin decline, losing a total of 20.48 million USD in funds. After several consecutive unsuccessful operations, he has gone from massive profits to being in the red.
Posted to explain recent trading experiences
Originally, James Wynn posted a tweet in the early morning, saying he was going to earn back the 100 million USD he lost:
Back to the trenches, gotta earn back those 100 million USD, haha.
What are we buying?
Around 10:30 AM, he posted another post that sparked community discussion:
I started doing perpetual contract trading in March, and I had never touched such things before. In fact, I didn't do much "serious trading" before, basically just trading meme coins. (I became known by everyone because I called in when PEPE's market cap was only 600,000, and then earned 8-digit USD.)
I turned about 3 million USD into 100 million USD in a month, and then lost everything on HyperLiquid within about a week.
I was originally just doing my own thing, but because the entire account can be tracked on-chain, more and more people started noticing me, and my followers suddenly increased to hundreds of thousands. So I just went along with it.
But as this attention grew, my trading completely got out of control. I was basically gambling, trying to recover previous profits while also afraid of looking like an idiot - having earned 100 million and then messing it all up. I became too greedy, not caring about the numbers on the screen at all.
Anyway, if you want to mess around like me and become a perpetual trading gambler, at least remember to use my referral link (below), which can save you some trading fees...
His previously arrogant self suddenly started playing the victim, even posting a Hyperliquid referral code, hoping the community would register using his link. This seemingly confirms previous suspicions that he might have had a promotional agreement with Hyperliquid, and that all trades were just a performance (opening long and short positions to lock in losses).
Bitcoin returns to $102,000
On the other hand, Bitcoin, which had dropped to $100,400 this morning, continued to rebound in the past few hours, reporting at $102,745 before this article's deadline.
