Controversial Hyperliquid trader “James Wynn” has reportedly been gambling with over $20,000 in donations he said would help him “defeat the cabal.”
According to blockchain analytics firm Arkham, the pseudonymous trader deposited the funds into Hyperliquid on Monday. This comes shortly after he lost in excess of $100 million through crypto derivatives trading.
The deposit has given his Hyperliquid position -0.021% leg room, moving his liquidation price from $103,632 to $103,610. His new position, a $100 million bitcoin (BTC) long with 40X leverage, was made hours after supposedly taking a “break” from perpetual trading.
Wynn had previously made $100 million in profits before managing to lose it all and rack up $17 million in losses in the space of a few weeks.
Read more: Hyperliquid leaderboards confuse traders as HYPE hits all-time high
Wynn told his followers that if they “want to fight the market-making cabal” they should send him USDC on the promise that he will pay it back “1:1.”
Throughout May, he also worked alongside controversial influencer and alleged rapist Andrew Tate on shilling a memecoin called Moonpig. His antics have left some questioning if he’s a paid industry plant. Crypto sleuth ZachXBT also doubted whether or not his X activity is organic.
Regardless of Wynn’s on-chain activities, Hyperliquid’s proprietary token HYPE has been hitting all-time highs, and its trading volume reached $244 billion in May alone.