Crypto Whale Makes History With $1.1B Bitcoin Bet
A daring crypto trader known as “James Wynn” has shocked the market by taking a $1.1 billion long position on Bitcoin using 40x leverage through the Hyperliquid DEX.
A crypto whale has taken Hyperliquid by storm, placing a massive 40x leveraged long position on Bitcoin worth $1.13 billion, marking what appears to be the first billion-dollar trade on the decentralized exchange. The trader, going by “James Wynn” on X, now sits on an unrealized gain of $36 million, according to data from Hypurrscan.
Using $28.4 million in margin spread across several trades, Wynn entered Bitcoin at an average price of $108,065. The bold move came close to a $16.3 million loss before the price surged past $110,000 on May 21, pushing the position safely above the liquidation level of $103,790. Early May 22 trading saw Bitcoin near $112,000, further securing the position.
Wynn had started reducing some exposure when Bitcoin hovered around $106,000 on May 20, as noted by HyperDash data. Still, the majority of the long position remained active as prices climbed.
Wynn has built a reputation as a high-risk trader and self-declared memecoin enthusiast, claiming to have spotted Pepe (PEPE) early when its market cap was just $600,000. Since joining Hyperliquid two months ago with a $4.65 million USDC deposit, Wynn has completed 32 trades, including leveraged bets on XRP, Trump (TRUMP), Fartcoin (FARTCOIN), and Toncoin (TON).
Hyperliquid’s DEX runs on its own Layer 1 blockchain and also supports spot trading, lending, and borrowing, offering a full suite of DeFi services. The scale and audacity of Wynn’s trade have left the crypto world buzzing, with many praising his risk tolerance—while others question his sanity.
