James Wynn is a well-known trader who has been talked about by the entire cryptocurrency community for the past few weeks. He became famous for billion-dollar leveraged trades on the decentralized exchange (DEX) Hyperliquid.
James Wynn suddenly shared personal experiences, discussing the price of success and the conflict with the platform that made him a star.
The dark side of fame and the conflict with Hyperliquid
Wynn admitted that since he left high-risk trading, he has been haunted by insomnia and panic attacks. Moreover, he constantly thinks about going back to recoup his losses. In total, the trader lost $100 million trading on Hyperliquid.
«After deciding to step away from billion-dollar trading, I wake up in the middle of the night from tachycardia and panic attacks… In my dreams, I hear voices saying: 'Wynn, wake up! Wake up, Wynn, wake up…' I brush off these voices and reach for a bottle of whiskey to fall asleep again,» Wynn wrote on X (formerly Twitter).
The trader became the 'face' of Hyperliquid. Thanks to Wynn, trading volume on the decentralized exchange soared to a record $8.6 billion. Meanwhile, the platform's token price — HYPE — increased by almost 40% in the last month. Wynn stated that he received only $34,000 from the platform for referrals — a paltry sum considering how many users he attracted and how he boosted the metrics of this DEX.
«Their referral program is terrible. Other platforms pay more. Once CZ (Binance founder Changpeng Zhao — editor's note) launches his DEX with a dark pool for futures trading, Hyperliquid will come to an end,» noted Wynn.
Last week, Zhao did indeed propose creating a DEX with a dark pool. According to him, such a solution would enhance trading privacy. The transparency of decentralized platforms makes traders too vulnerable, believes CZ.
Wynn emphasized that he reached out to Hyperliquid twice to discuss a potential partnership. However, the platform's team rejected him, citing the decentralized model. Some critics now claim that Wynn is connected to CZ and is playing '4D chess' — possibly laying the groundwork for a new DEX. The trader denies cooperating with Binance but openly supports Zhao's ideas.
«CZ has the money, teams, and connections to build something grand… I hope this will push Hyperliquid to improve,» Wynn said.
Other users suggest that Wynn might have intentionally provoked liquidations on Hyperliquid, hedging on other exchanges. There is no evidence, but the crypto community is actively discussing this topic. Wynn himself claims to have 'found peace,' but hints at a possible return.