{"id":12394,"date":"2025-05-24T15:02:36","date_gmt":"2025-05-24T13:02:36","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=12394"},"modified":"2025-05-24T15:02:36","modified_gmt":"2025-05-24T13:02:36","slug":"james-wynn-places-1-25-billion-bet-on-bitcoin-as-a-hyperliquid-trader","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/24\/james-wynn-places-1-25-billion-bet-on-bitcoin-as-a-hyperliquid-trader\/","title":{"rendered":"James Wynn Places $1.25 Billion Bet on Bitcoin as a Hyperliquid Trader"},"content":{"rendered":"

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Renowned Hyperliquid trader James Wynn has raised his 40x leveraged long Bitcoin wager to $1.25 billion following the closure of his $PEPE position, netting a $25.2 million gain.<\/p>\n

On May 24, Lookonchain documented<\/a> that Wynn established an 11,588 BTC position with an average entry cost of $108,243 and a liquidation threshold of $105,180.<\/p>\n

This action occurred mere hours after Wynn liquidated his Ether (ETH<\/a>) and Sui (SUI<\/a>) longs, incurring a $5.3 million loss. He subsequently utilized the proceeds to double his investment in Bitcoin (BTC<\/a>), expanding his stake to 11,070 BTC.<\/p>\n

Wynn initiated his Bitcoin long position with $830 million on May 21, generating $400 million in profits that same day. By May 22, he boosted the position back to $1.1 billion<\/a>, maintaining significant leverage as BTC exceeded $110,000 and recorded a $39 million increase on paper. He later liquidated 540 BTC for $60 million, securing a $1.5 million profit.<\/p>\n

James Wynn\u2019s Bitcoin long wager. Source: <\/em>James Wynn<\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>Bitcoin’s rally continues, surpassing $110K for the initial time<\/strong><\/em><\/a><\/p>\n

Wynn endures losses after Trump tariff announcement<\/h2>\n

Wynn faced setbacks following a steep market decline prompted by former President Donald Trump\u2019s declaration of a 50% tariff on all European Union goods.<\/p>\n

The announcement, made on May 23, caused Bitcoin to plummet below $107,000, wiping out gains in both traditional and cryptocurrency markets. Ether also fell to as low as $2,504, while memecoins experienced even greater declines.<\/p>\n

Data from<\/a> HypurrScan reveals that Wynn has incurred over $29 million in losses within a single day. Nevertheless, he remains over $57 million ahead in overall trading and an uplifting $46 million in the past month alone.<\/p>\n

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Wynn\u2019s PnL. Source: HypurrScan<\/em><\/figcaption><\/figure>\n

Related: <\/strong><\/em>Hyperliquid supports 24\/7 crypto trading in CFTC comments submission<\/strong><\/em><\/a><\/p>\n

High-stakes cryptocurrency trader<\/h2>\n

Wynn is a high-stakes cryptocurrency trader who identifies<\/a> himself as a high-risk leverage trader<\/a> and memecoin enthusiast<\/a>. He claims to have identified Pepe (PEPE<\/a>) as a purchase when its market capitalization stood at $600,000.<\/p>\n

The cryptocurrency whale began utilizing Hyperliquid two months prior, depositing $4.65 million in the stablecoin USDC (USDC<\/a>) onto the platform, as indicated by Hypurrscan data.<\/p>\n

Hyperliquid\u2019s DEX<\/a> serves as the flagship product on the Hyperliquid layer 1 blockchain, which also provides spot trading, lending, and borrowing services, among other offerings.<\/p>\n

Significantly, Wynn\u2019s bold leverage enhances his exposure to market fluctuations. With Bitcoin trading around $109,000, any sharp descent could jeopardize his position.<\/p>\n

Magazine:\u00a0<\/strong><\/em>Crypto scam hub expose stunt goes viral, Kakao detects 70K scam applications: Asia Express<\/strong><\/em><\/a><\/p>\n