Crypto Whale Dumps $4.12M in Altcoins, Doubles Down on 40x Leveraged Bitcoin Bet

Another day, another high-stakes gamble in crypto land. James Wynn just liquidated $4.12 million worth of HYPE tokens—because nothing says ’stable investment’ like a coin literally called HYPE—before plunging $100 million into a 40x leveraged Bitcoin long. Because why settle for mere volatility when you can multiply it?

The move screams either confidence or desperation—take your pick. While retail traders sweat over 2x leverage, whales like Wynn treat the market like a high-limit blackjack table. Bitcoin’s recent price action? Just another opportunity to bet the farm... with someone else’s money, naturally.

One thing’s certain: when this play unwinds, it’ll be a spectacle. Whether that means Lambos or liquidations remains to be seen. After all, in crypto, the house always wins—even when there isn’t one.

Undeterred by these losses, Wynn is back in the game, having just opened another long BTC position of 945 $BTC ($99.7M) with 40x leverage. With the initial margin at $2,177,955.53, his initial liquidation price was $104,577. However, he recently deposited another $400,000 as margin, with the new liquidation price is $104,151— less than 1% away from the current price.

Following this bet, Wynn urged his X followers to support him by buying Bitcoin. Apparently, Wynn believes that he — along with other retail traders holding highly leveraged longs on the Hyperliquid platform — are being hunted by crypto whales who are trying to liquidate them.

“The moment I entered my long the insta hunted me. There is an agenda here and I don’t know what it is. It can’t be just my long, maybe it’s because I’m a fish playing a whales game or maybe it’s because I’m bringing attention to Hyper Liquid,” he wrote.