Millionaire leveraged crypto businessman James Wynn has been able to bindate nearly $ 25 million in Bitcoin after estimating the cryptocurrency prices will increase.
Wynn is liquid for 240 Bitcoin (Btc) and has a “man -closed part of his position to reduce the price of extermination,” Onchain Analytics platform lookonchain Na -Post to X on June 4.
Lookonchain added that Wynn will still hold 770 Bitcoin worth $ 80.5 million at a demolition price of $ 104,035.
Data from Hypurrscan Shut up That the entrepreneur is currently sitting in an uncertain loss of nearly $ 1 million in its 40x bitcoin long position.
After the extermination, wynn Na -Post In X, which claims the market is manipulating against him. He has already requested donations to “support his reasons” of exposing market manipulation.
Wynn rose to the popularity after making a string of large, high-leverage bets on Bitcoin through the Hyperliquid trade platform, where information on Wynn’s position was public.
He started a $ 1.25 billion stakes on May 24, which lasts in Bitcoin with 40x leverage After suffering a loss of $ 29 million a day before.
One day later, Wynn had Closed his long position And instead opened a $ 110 million short position in cryptocurrency.
On May 29, lookonchain and Arkham Intelligence said Wynn suffered a loss of $ 100 million Over the course of the week.
Not disobeyed by recent losses and wanted to make $ 1 billion, Wynn continued to start a Second $ 100 million has leverage a long position in Bitcoin earlier this week.
Dark pool dex
After Wynn’s $ 100 million extermination, Binance co-founder Changpeng Zhao suggested can fight market manipulation.
Related: Bitcoin’s eyes $ 115k by July, but strong US job data to threaten the rally
Zhao said that due to the transparency of the Dexs, people will see real-time orders, which may lead to front runs, slippages and other issues and that the issue is more intense with the ongoing DEXs due to avoidance.
While the concept of the dark pool is new to crypto in traditional finances, this feature has been in the decades.
Dark pools provide liquidity and do not introduce institution investors while maintaining their private trade from retail investors. Dark pools can be costly effective, however, they can also lead to conflicts of interest issues due to their lack of transparency.
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