After a $100 Million Loss, What’s Next for the Hyperliquid’s James Wynn?
James Wynn, the infamous trader who became a crypto folk hero for his billion-dollar leveraged plays on Hyperliquid, remains in the spotlight once again. This time, not with a massive trade however with a haunting confession and sharp criticism of the platform that propelled his fame.
Wynn exposed that he has been having a hard time with sleeping disorders, panic attacks, and mental pressure given that stepping back from the high-stakes trading that made him a crypto main character. Still reeling from a $100 million loss, Wynn said he tries to silence the whispers, but the temptation to return remains.
Behind the scenes, Wynn’s fallout with Hyperliquid includes a brand-new twist to his legend. Regardless of becoming the informal face of the decentralized perpetuals exchange, Wynn claims he was never ever compensated beyond $34,000 in referrals. ‘I made $34,000 through recommendations on their platform. Which is incredibly poor considering the number of sign-ups and volume I created. Their recommendation program sucks. Other platforms have far better. IMO when CZ releases a dark pool perps DEX, it will put an end to Hyperliquid,’ Wynn stated in a post.
BeInCrypto recently reported that Changpeng Zhao (CZ) proposed a dark pool-style DEX for perpetual futures. According to CZ, it would assist combat front-running and boost trade privacy. Wynn alleges he contacted Hyperliquid two times to talk about a possible partnership, offered the exposure and volume his trades brought to the platform. The team reportedly declined, citing their decentralized design and refusal to provide deals to individuals.
This has fueled speculation from critics like Gumshoe, who suggested the Binance exchange now backs Wynn. Gumshoe also mentioned Wynn playing a longer ‘4D chess’ game involving market narratives, buzz token listings, and a potential future DEX from Changpeng Zhao. While Wynn has denied being paid by Binance, he appears to favor CZ’s vision. ‘CZ has the cash, network, teams to build something like no other … I hope this encourages Hyperliquid to level up,’ Wynn noted in a post.
Wynn’s critics are also raising eyebrows. Analyst DUO Nine speculated that Wynn’s previous activity might indicate a money-laundering scheme. Regardless of the chaos, Wynn insists he has peace. In a recent post, he hints at a potential renewal. While Wynn remains sidelined, the crypto degen trader may return, however not always on Hyperliquid.
