#TradingTools101 TradingMistakes101 James Wynn, the famous cryptocurrency trader, experienced sharp volatility on the Hyperliquid platform, turning 3 million dollars into 100 million dollars before losing it all within a week. He attributed his downfall to greed and public pressure, noting that his trades became emotional and reckless. Despite this massive loss, Wynn continues to promote trading platforms and meme coins.¹
*Key events that led to the liquidation:*
- *Initial profit*: Wynn's account rose to 100 million dollars, with unrealized profits reaching 85 million dollars at one point.
- *Highly leveraged bets*: Wynn took on massive and highly leveraged positions in Bitcoin (BTC), PEPE memecoins, and other tokens, attracting the attention of cryptocurrency enthusiasts worldwide.
- *Collapse*: A massive 1.25 billion dollar bet on Bitcoin collapsed as prices fell below 105,000 dollars, amid rising geopolitical tensions, resulting in a loss of over 37 million dollars including fees.
- *Liquidation*: Wynn's positions were liquidated at 16.14 million dollars after the price of Bitcoin dropped below the liquidation threshold, with a loss of 379 Bitcoin on the Hyperliquid platform using 40x leverage.
