James Wynn loses it all, again, shorting bitcoin
After losing $100 million on leveraged Hyperliquid trades earlier this year, James Wynn returned to social media to brag about shorting bitcoin (BTC). Immediately, BTC then rallied to an all-time high and liquidated him. Soon after his return to X, he confidently opened a 40X bearish leveraged position worth about $1.5 million at the time, with a liquidation price of $108,630 per BTC. In the hours before Hyperliquid’s market-makers liquidated him, observers called his bet a “bold hedge” and a “massive risk.” He paid no mind. His X posts implied that he genuinely thought BTC’s price would plummet quickly enough to make his dangerous short position worth it. Unfortunately, BTC rallied against Wynn, surpassing $116,000 on Thursday. His initially confident “I smell a black swan” quickly devolved into another plea for help, “Got $100 to spare.” During his quick demise, he managed to promote a few obscure memecoins and posted various controversial politic...