Top crypto trader loses $15 million in 15 hours
Top cryptocurrency trader James Wynn has suffered a staggering loss after closing $1 billion worth of short positions on Bitcoin (BTC) in less than a day. Details of the trade indicate that the transaction occurred on the decentralized exchange Hyperliquid, where Wynn incurred a $15.86 million loss after closing a short position on Bitcoin, according to the latest on-chain data obtained by Finbold from HyperDash . James Wynn losing Bitcoin short position. Source: HyperDash The loss was recorded on May 25, following the closure of Wynn’s BTC short. He took a $15.53 million hit on the position itself, along with nearly $940,899 in fees, resulting in a net loss of $15.86 million. Notably, after the trade, data shows that Wynn had opened a $1 billion short position using 40x leverage, risking his entire $50 million wallet. This stands as the largest on-chain bet ever placed. The short position was entered at an average price of $107,077. If BTC rises above $110,446...