The renowned cryptocurrency trader James Wynn, known for his $100 million losses in Bitcoin bets, has officially abandoned perpetual trading. Along with this decision, Wynn withdrew his participation in staking and sold the entirety of his Hyperliquid (HYPE) tokens today. The decentralized exchange Hyperliquid had been a key platform for his multimillion-dollar operations in Bitcoin.
Update: A few hours later, Wynn also opened a new leveraged position in Bitcoin. In his return, the trader opened a long position of $99.5 million in Bitcoin (945 BTC) with a leverage of 40x. The position has a liquidation price of $104,580.
