After the big gambler James's account was liquidated, the open contracts on hyperliquid did decrease somewhat, but they are still slightly above Huobi's status.

James's identity has two main interpretations besides being a real gambler.

One is business cooperation; today James himself said he has never received money, indeed he has sought money twice, but did not get any, and he also supported cz's claim that the dark pool dex would eliminate hyperliquid.

It’s estimated that hyperliquid doesn't have much budget to give him; if they did, would a big whale just come in and make a trade every time? That wouldn’t be reasonable.

The other interpretation is hedging for money laundering. Currently, there is no clear evidence; mainly, his positions look randomly opened, with too high leverage, and it doesn’t seem like normal behavior. Additionally, he said his cex account has been completely frozen.

Of course, even if it's true, I don’t think it affects $hype in any way. Money laundering is also an important practical attribute; BTC was initially prioritized for money laundering applications.

Hyperliquid has demonstrated that such a large order can be supported by platform liquidity, and the money laundering issue will only arise on cex.