How James Wynn's $100M Implosion Is Familiar Leverage Tale

Derivatives trader James Wynn emerged out of the woodworks a few weeks ago, flaunting 9-figure bitcoin positions on HyperLiquid as he went on a seemingly undefeatable run that culminated in around $100 million worth of profit.But that run, as is often the case with highly-leveraged crypto derivative trading, came to a shocking end — Wynn liquidated his entire account despite BTC only moving by a couple of percent."I've decided to give perp trading a break," Wynn wrote on X after the final blow up. "Its been a fun ride source: https://www.coindesk.com/markets/2025/06/02/how-james-wynn-s-usd100m-implosion-is-a-leverage-tale-as-old-as-time