Hyperliquid Trader James Wynn Exits $1.25B Long Bitcoin Bet at a Loss

Crypto trader James Wynn has closed a massive $1.25 billion Bitcoin long on Hyperliquid—built with 40x leverage—at a $13.4 million loss, despite briefly sitting on $40 million in paper profits. The trade, one of the largest ever on the platform by a single trader, had a liquidation price of $105,179.

Trader Cuts Losses After Bitcoin Dips on Hyperliquid

Wynn began his Bitcoin long position with $830 million on May 21, trimming $400 million in profits the same day. By May 22, the trader increased the position back up to $1.1 billion as BTC crossed $110,000 and gained nearly $40 million in unrealized profits. He later sold 540 BTC for $60 million, securing a $1.5 million profit.

The crypto trader confirmed on X that he “cut his losses” on closing his highly leveraged long positions.

Before going all in on Bitcoin, James Wynn had closed a long position on PEPE for a profit of $25.19 million.

Bitcoin was cruising to new all-time highs this week before it dipped on Trump’s 50% tariff announcement on all EU imports. The leading cryptocurrency saw a local bottom at $107,431 on late Saturday. At the time of writing, Bitcoin is trading at $108,238.

Hyperliquid Sees One of Biggest Trades by a Single Trader

The decentralized crypto exchange Hyperliquid saw one of the biggest trades by a single trader when James Wynn opened a long position that reached $1.25 billion. This long bet signifies a shift among traders as trust in DEXs increases. The native token of the exchange HYPE saw its demand rise as the price increased to $34.64, up 4.2% in the last 24 hours.