Hyperliquid whale James Wynn loses $2.9M after Trump–Musk feud triggers BTC drop

James Wynn, a whale trader on the decentralized exchange Hyperliquid (HYPE), suffered major losses after Bitcoin’s (BTC) price dropped following a public spat between U.S. President Donald Trump and Tesla CEO Elon Musk. According to on-chain analyst @EmberCN, the decline triggered the forced liquidation of Wynn’s long position, amounting to 379 BTC, after which he manually closed the remainder of his holdings. The trade cost him $2.9 million of the $3.6 million in USDC he had used as margin, leaving just $700,000—thanks in part to $225,000 he received from followers after appealing for support online. Once up $87 million, Wynn is now down $20.5 million in just two weeks, with limited capital left to make sizable moves.