A crypto trader identified as “James Wynn” has placed a record – setting $1.1 – billion – long bet on Bitcoin with 40x leverage on the Hyperliquid platform. Here are the details:
Trade Details: The trader used a $28.4 – million margin position across several trades to build this massive bet. The average entry price for the position is $108,065.
Profit and Loss: When Bitcoin’s price fluctuated, the trader had paper gains of $17 million at one point, which were then erased and temporarily turned into a $15.6 – million loss in less than two hours. As of May 22, with Bitcoin trading above $110,000, the position is profitable, with gains of approximately $36 million.
Liquidation Price: The liquidation price of the position is around $103,800. Since Bitcoin is trading well above this level, the position appears relatively safe for now, although the cryptocurrency market is volatile.
Trader’s Profile: “James Wynn” describes himself as a high – risk leverage trader and meme – coin enthusiast. He started using Hyperliquid about two months ago, depositing $4.65 million worth of USDC stablecoin. He has conducted 32 trades, including long positions on XRP, Toncoin, and several meme coins.
Hyperliquid is a decentralized exchange that uses its own high – speed blockchain built upon the Ethereum layer – 2 network Arbitrum. It offers spot trading, perpetual futures, and borrowing and lending services. The platform has attracted attention due to this large – scale trade, which is the first position exceeding $1 billion on the platform, triggering a mixed reaction from the cryptocurrency community, with some calling the trader an “absolute mad man” while others praise his “nerves of steel”.
