Aftermath of Musk-Trump Verbal Clash...James Wynn Suffers $20.5 Million Loss in Just 2 Weeks
Summary
- James Wynn reportedly suffered a loss of about $20.5 million due to a sharp market decline following the verbal clash between Donald Trump and Elon Musk.
- Due to the drop in Bitcoin (BTC) price, Wynn underwent forced liquidation and position closure, losing $2.9 million USDC along with a significant amount in donations.
- Even with maximum 40x leverage on his remaining funds, he can only open positions worth about $28 million, making it difficult to generate substantial profits.
Hyperliquid whale James Wynn suffered massive losses due to a sharp market drop following a public verbal clash between former U.S. President Donald Trump and Tesla CEO Elon Musk.
According to Amber, as of the 6th (local time), James Wynn was forced to liquidate a position of 379 BTC at around 1 a.m. after the price of Bitcoin (BTC) fell, and subsequently closed out his own 40x long position.
Wynn had operated a long position by deploying a total of $3.6 million USDC, but after liquidation, the remaining funds amounted to only $700,000, resulting in a loss of $2.9 million USDC. Of this, $225,000 came from donations received via two "help request" tweets on social media.
Just two weeks ago, he had recorded a cumulative profit of $87 million, but now finds himself facing losses amounting to $20.5 million. With the remaining funds, even if he utilizes up to 40x leverage, he can only open a position worth about $28 million, making it difficult to achieve significant gains for the time being.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
