Hyperliquid’s prominent businessman James Wynn has increased his 40x leverage long bitcoin bet to $ 1.25 billion after closing his $ Pepe position for a $ 25.2 million income.
On May 24, lookonchain reported That Wynn entered an 11,588 BTC position with an average entry price of $ 108,243 and a degree of extermination of $ 105,180.
The move came time after Wynn came out of his ether (Eth) and sui (Sui) Wishing a $ 5.3 million loss. At this time he used the proceedings to be doubled down to Bitcoin (Btc), Increased his position to 11,070 BTC.
Wynn started his position in Bitcoin with $ 830 million on May 21, which trimmed $ 400 million in revenue on the same day. By May 22th he rode the position up to $ 1.1 billionHolding high action as BTC crossed $ 110,000 and gained $ 39 million in paper. He later sold 540 BTC for $ 60 million, earning $ 1.5 million income.
Related: Bitcoin continues to rally to surpass $ 110k for the first time
Wynn suffers losses after Trump’s tariff threat
Wynn jumped following a sharp collapse of the market that was announced by former President Donald Trump’s announcement of a 50% tariff on all imports of the European Union.
The news, delivered on May 23, sent a Bitcoin collapse below $ 107,000 and removed the acquisitions of both the traditional and crypto market. Ether also fell to the lower $ 2,504 while the memecoins were that -hit even harder.
Data From Hypurrscan shows that Wynn suffered more than $ 29 million in losses just the previous day. However, he still has more than $ 57 million all -time trade and $ 46 million just last month.
Related: Hyperliquid Backs 24/7 Crypto Trading in CFTC Comments to Submit
High stakes crypto trader
Wynn is a high-stake crypto businessman describes himself as a High -risk businessman and MEMECOIN MAXI. He also claims to be called Pepe (Pepe) a purchase when its market cap is at $ 600,000.
The Crypto Whale began using Hyperliquid two months ago, depositing $ 4.65 million worth of Stablecoin USDC (USDC) onto the platform, hypurrscan data is displayed.
Dex of hyperliquid is the flagship in the Hyperliquid Layer 1 Blockchain, which also offers trading and borrowing services and lending, among other things.
Noteworthy, Wynn’s aggressive action strengthens his exposure to volatility. With bitcoin trading near $ 109,000, any sharp move downward can threaten the position.
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