After losing $100 million on leveraged Hyperliquid trades earlier this year, James Wynn returned to social media to brag about shorting bitcoin (BTC).
Immediately, BTC then rallied to an all-time high and liquidated him.
Soon after his return to X, he confidently opened a 40X bearish leveraged position worth about $1.5 million at the time, with a liquidation price of $108,630 per BTC.
In the hours before Hyperliquid’s market-makers liquidated him, observers called his bet a “bold hedge” and a “massive risk.”
He paid no mind. His X posts implied that he genuinely thought BTC’s price would plummet quickly enough to make his dangerous short position worth it.
Unfortunately, BTC rallied against Wynn, surpassing $116,000 on Thursday. His initially confident “I smell a black swan” quickly devolved into another plea for help, “Got $100 to spare.”
During his quick demise, he managed to promote a few obscure memecoins and posted various controversial political messages.
His X profile now describes him simply as “broke.”
Internet trainwreck spotters suggested somebody volunteer a wellness check. Somebody else suggested doing the opposite of what Wynn does, the “Inverse James Wynn.”
Read more: Hyperliquid degen James Wynn deletes ‘cabal’ donation post
Back to $0 for the Hyperliquid degen
Wynn famously made $100 million and then lost it all trading digital asset derivatives a few months ago. The gambler even frittered away $20,000 in sympathetic donations he received while trying to “defeat the cabal” of market-makers.
His activities during this time were so bizarre that some people suspected him of being some kind of industry plant.
Between this most recent liquidation and his previous massive loss on Hyperliquid, his total losses soared above $20.5 million.
Wynn wasn’t the only loser during yesterday’s BTC rally, however. Forced liquidations of short positions from various traders exceeded $543 million in just one hour.