A degen gambler who previously deposited hundreds of thousands of dollars in crypto casino stake and roobet was liquid to hyperliquid over the weekend, Lost $5.5 million after shorting Before Sunday’s bounce with a series of leveraged positions worth $ 168 million.
Trader is abbreviated Bitcoin , and Zcash as well as having smaller positions in Aster, BNB and Resolv.
The Bearish Trades came after several tokens fell to multimonth lows on Friday as fear and crypto greed began to spark “intense fear.”
The losses did not disturb the trader, who effectively doubled the position by Shorting Bitcoin and ether with positions worth $115 million on the decentralized exchange GMX shortly after liquidation.
Those positions are still open, with unrealized revenue standing at $1.4 million at the time of writing.
The businessman’s use of high leverage and general impulsivity is reminiscent of James Wynn, a pseudonymous businessman who famously disappeared $ 100 million earlier this year After opening a series of long positions in Bitcoin at the top.
Bitcoin is currently trading at $94,100 having recouped most of the gains from Sunday’s rally.
