In a move that’s sent shockwaves through the crypto world, an anonymous trader has taken high-stakes speculation to a new level — opening a massive $1.1 billion long position on Bitcoin using 40x leverage on the decentralized exchange Hyperliquid.
Known online as “James Wynn,” this trader has quickly become the talk of the town after data from the Hypurrscan block explorer confirmed that he’s up approximately $36 million on the mind-blowing trade. It’s believed to be the first-ever billion-dollar position opened on the Hyperliquid platform, marking a new milestone for both the protocol and high-risk crypto trading.
Wynn’s leveraged play began with a margin of roughly $28.4 million, gradually expanded through a series of trades. His average entry price was logged at $108,065 per BTC, and as Bitcoin surged past $110,000—even flirting with the $112,000 mark in early May 22 trading—the position moved from underwater to well in the green.
In fact, Wynn’s position had been down by $16.3 million at one point, illustrating just how much volatility and risk were involved. But instead of folding, the trader held firm, prompting crypto commentator Sigma^2 to post on X, “He did it fellas. First position [on Hyperliquid] to exceed $1B.”
HyperDash data shows that Wynn began shaving off some exposure around $106,000 on May 20, locking in gains as Bitcoin’s rally accelerated. Yet even with partial closures, the position remains staggering in size — a clear indicator of his deep pockets and even deeper conviction.
A glance at the on-chain PnL chart shows this wasn’t just a lucky moonshot. Wynn, who labels himself a “high-risk leverage trader and memecoin maxi,” has made a name for himself by making bold predictions. He reportedly called Pepe (PEPE) a buy when its market cap was only $600,000, long before it became a widely known meme coin.
His Hyperliquid activity dates back just two months, when he deposited $4.65 million worth of USDC onto the platform. Since then, his trading history includes a colorful mix of assets, from XRP to the politically themed Trump token, and even lesser-known tokens like Fartcoin and Toncoin. His current trade, however, eclipses them all in terms of size, risk, and sheer spectacle.
Not surprisingly, the crypto community has had mixed reactions. One X user called Wynn an “absolute madman,” while another marveled at his “nerves of steel.” Whether viewed as recklessly audacious or brilliantly timed, his strategy — and outcome — are drawing admiration, skepticism, and envy in equal measure.
This spectacle also puts a spotlight on Hyperliquid, a Layer 1 blockchain and decentralized exchange that offers not only perpetual futures but also spot trading and lending services. Hosting a billion-dollar leveraged trade on its platform is no small feat and could attract more whales or degens eager to test its capacity.
While many traders dabble in leverage, Wynn’s gamble stands in a league of its own. It’s a powerful reminder that in the fast-moving world of crypto, the line between fortune and folly is razor-thin — and sometimes, all it takes is a daring bet and impeccable timing to ride the wave to millions.
