Coinbase Insights: Hyperliquid Trader’s $100M Bitcoin Liquidation Amid Market Volatility

In a dramatic turn of events, a Hyperliquid trader identified as James Wynn suffered nearly $100 million in liquidations as Bitcoin’s price plummeted below $105,000. Onchain data revealed two massive leveraged long positions—527.29 BTC ($55.3M) and 421.8 BTC ($43.9M)—were wiped out during the market dip, which saw BTC hitting 10-day lows. Earlier, a 94 BTC ($10M) position had also been liquidated. Tracking platforms Arkham Intelligence and Lookonchain reported a total of 949 BTC liquidated in this incident. This event underscores the high-risk nature of leveraged trading in the cryptocurrency market, even for seasoned traders. As Bitcoin continues to exhibit volatility, such incidents serve as a stark reminder of the importance of risk management in digital asset trading. The liquidation occurred amid broader market fluctuations, highlighting the need for traders to stay vigilant and adapt to rapidly changing conditions. This case also draws attention to the role of platforms like Coinbase in providing secure and regulated environments for cryptocurrency trading, where such extreme losses might be mitigated through better risk controls and user education.

Hyperliquid Trader Loses Nearly $100M in Bitcoin Longs Amid Market Dip

A Hyperliquid trader identified as James Wynn faced nearly $100 million in liquidations after Bitcoin’s price dropped below $105,000. Onchain data reveals two major leveraged long positions—527.29 BTC ($55.3M) and 421.8 BTC ($43.9M)—were wiped out as BTC slid to 10-day lows. Earlier, a 94 BTC ($10M) position met the same fate.

Arkham Intelligence and Lookonchain tracked the carnage: 949 BTC liquidated in total. Wynn had ramped up his 40x Leveraged bet to $1.25 billion on May 24, only to be crushed by tariff-related market turbulence. Coinbase recorded a wick down to $104,630, while other platforms saw deeper cuts.

The trader responded cryptically on X, posting a screenshot from a 1999 sci-fi film—perhaps an apt metaphor for the brutal realities of high-stakes crypto speculation.

Coinbase Expands 24/7 Trading to XRP and Solana Futures

Coinbase will launch round-the-clock trading for XRP and solana futures contracts starting June 13, 2025, becoming the first CFTC-regulated platform in the U.S. to offer continuous access to these altcoins. The move aligns with the non-stop nature of cryptocurrency markets and follows strong demand for altcoin derivatives.

XRP futures will join Bitcoin and ethereum in Coinbase’s 24/7 offerings, while Solana futures have already shown impressive traction with over 23,000 contracts traded. The exchange aims to capture more of the global derivatives market, which now accounts for 75% of total crypto trading volume.

"This expansion reflects institutional interest in altcoin exposure and our commitment to meeting trader demand," said Andy Sears, CEO of Coinbase Financial Markets. The platform’s derivatives interface has seen XRP futures volume exceed 13,000 contracts across standard and nano sizes.