The cryptographic merchant James Wynn took advantage of the millionaire of almost $ 25 million in Bitcoin after betting with influence that the price of cryptocurrency would increase.
Wynn was liquidated for 240 Bitcoin (BTC) and had “closed manually part of its position to reduce the liquidation price”, the Ochain Lookonchain analysis platform published on June 4.
Lookonchain added that Wynn still had 770 bitcoin worth around $ 80.5 million at a liquidation price of $ 104,035.
Hypurrscan data show that the merchant is currently sitting in an unrealized loss of almost $ 1 million in its long 40x Bitcoin position.
After the liquidation, Wynn published in X, claiming that the market was being manipulated against it. He has sanctioned donations to “support his cause” or expose market manipulation.
Wynn jumped to fame after making a series of great high delivery bets in Bitcoin through the hyperliquida negotiation platform, where the information about Wynn’s position is public.
He started a bet of $ 1.25 billion on May 24, taking a long time in Bitcoin with an leverage 40x after suffering a loss or $ 29 million only one day before.
A day later, Wynn had closed his long position and had opened a short position of $ 110 million in the cryptocurrency.
On May 29, Lookonchain and Arkham Intelligence said Wynn had suffered a loss of $ 100 million during the week.
It was not one of the recent losses and wanting to win $ 1 billion, Wynn initiated a second long position of $ 100 million in Bitcoin earlier this week.
Dark pool dexs
After the liquidation of $ 100 million of Wynn, the co -founder of Binance Changpeng Zhao proposes to create a decentralized exchange of perpetual exchange of dark pool (DEX), which said it could combat market handling.
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Zhao said that due to the transparency of the DEX, people can see orders in real time, which can lead to the race, landslides and other problems and that the problem is more in the dexs dexs dexs to the settlements.
While the concept of dark groups is new for traditional finance cryptography, this characteristic has existed for many decades.
Dark Pools provides liquuidity and anonymity to institutional investors while maintaining its private offices of retail investors. Dark pools can be profitable, at the beginning, they can also lead to conflicts of interest problems due to their lack of transparency.
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