Trader James Wynn’s Bitcoin Long Position Closed at a Loss of Approximately $70
Trader James Wynn closed his Bitcoin long position this afternoon, incurring a loss of approximately $70. He lamented that he is always targeted by the market while simultaneously deciding to short Bitcoin… it feels like he has become a trivial clown.
(Background: James Wynn no longer performs? Self-proclaimed idiot gambler, shared a Hyperliquid referral link after losing $100 million)
(Context: Over $60 million lost in a week> Whale James Wynn: I am still richer than you, with passive income exceeding your annual earnings)
James Wynn Places a 40x Bitcoin Long Position
Known for high-leverage contract trading, James Wynn, after losing $100 million in profits over the past month, made a post on X earlier today around three o’clock stating that he gambled his fortune by opening a 40x long position on Bitcoin. However, this time the position was worth only $18,737.66, which can be described as an “ant position.” He wrote:
“Only one chip left and one chair.”
“I went all in ”
Just two hours later, on-chain data revealed that he had already closed his position, with a loss of about $70. Subsequently, he posted again at five-thirty in the evening: “Every time I go long, they come to hunt me”… deciding to switch to a short position, truly resembling an inexperienced gambler.
However, as someone who previously made significant profits on PEPE, combined with the $34,000 in rebates received from HyperLiquid, it remains unclear whether he is genuinely gambling his fortune; it may simply be a strategy to attract user attention.
James Wynn Claims He Did Not Receive Advertising Fees from HyperLiquid
In response to community skepticism regarding his recent actions being merely promotional for HyperLiquid, James Wynn posted earlier today:
“I did not receive a single cent from HyperLiquid.
I reached out on two occasions hoping to get some kind of partnership deal for all the attention I was bringing them, and although they seemed thankful, they don’t offer such deals to anyone. This makes sense to some extent, considering they are a decentralized platform and operate differently than traditional exchanges.
I earned $34,000 through their referral system. Given the number of registrations and trading volume I brought in, this is ridiculously low. Their referral system is really poor; other platforms are much better.”
On the other hand, perhaps feeling that HyperLiquid’s returns were insufficient, he also stated that he believes if Binance founder CZ were to launch his own dark pool perpetual contract DEX, it would ultimately overshadow HyperLiquid.
“CZ has the funds, connections, and team to create something on an entirely different level. Just look at how he built Binance.”
“I hope this can stimulate HyperLiquid to upgrade itself, as they will soon be overtaken by stronger competitors.”
CZ Calls for Development of a Dark Pool DEX
CZ stated earlier this month that while the existing DEX public order book model increases transparency, it also makes large traders’ orders vulnerable to exposure, potentially leading to slippage, front-running, and even malicious liquidations. In a fully transparent market, even substantial funds can become targets for coordinated attacks, he remarked:
“Even if you have a billion dollars, others may collaborate against you. For example, MEV attacks.”
Drawing on the traditional finance concept of “dark pools” that reduce market impacts for large trades, CZ’s core suggestion is to establish a DEX on-chain with a similar style, especially for perpetual contracts. He proposed that such DEXs should not display order books, and even utilize zero-knowledge proofs (ZKPs) or similar cryptographic technologies to hide smart contract deposit information until some time after the transaction is completed.
CZ stated:
“Now might be a good time for someone to launch a decentralized exchange (DEX) with a dark pool style + perpetual contract platform. The specific approach could be not to display the order book, or even further, to hide deposit records in smart contracts, or at least delay their display. This design should be achievable through zero-knowledge proofs (ZK) or similar cryptographic technologies.”
Related Reports
James Wynn’s Performance as a “Crypto Gambler” – Is He Just Putting on a Show for HyperLiquid?
Whale James Wynn Admits Defeat: “I Quit Trading Contracts, I Want to Leave This Decadent Place.”
Whale James Wynn Goes Short, Claims “Bitcoin Will Surge to $120,000”: Invest 99% in BTC, 1% in Meme Coins.