by Coinstrooper Crypto Articles
Quick Take
  • James Wynn, the pseudonymous trader behind a billion-dollar bitcoin (BTC) bet earlier this year, is back.
  • This time, Wynn is making a leveraged play on ASTER just days after being liquidated on the same token.
  • While the dollar amount seems small compared to Wynn's previous positions, the trade is likely to be a hedge on a different position on Aster itself.
  • "I’m farming the $ASTER airdrop,” the trader wrote on X.

What Happened

James Wynn, the pseudonymous trader behind a billion-dollar bitcoin (BTC) bet earlier this year, is back. This time, Wynn is making a leveraged play on ASTER just days after being liquidated on the same token.

Wynn has opened a 0x5078c2fbea2b2ad61bc840bc023e35fce56bedb6" rel="nofollow noopener noreferrer" target="_blank">new 3x leveraged long on ASTER, the native token of the emerging Aster perpetuals exchange, worth over $16,000, entering at $1.97 with a liquidation level around $1.57.The move was first spotted by Onchain Lens.

That position closed with a $17.5 million loss, before he flipped into a billion-dollar short. At one point, he had his entire $50 million wallet on the line.

Market Context

That wild streak ended with Wynn saying he was walking away “a wynner” after netting $25 million in profit.

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

Why It Matters

While the dollar amount seems small compared to Wynn's previous positions, the trade is likely to be a hedge on a different position on Aster itself. "I’m farming the $ASTER airdrop,” the trader wrote on X. “I believe it will be one of the biggest [in] crypto history.”

The move is Wynn’s latest high-risk bet on Hyperliquid, an onchain derivatives platform where he previously took out a $1.2 billion long on bitcoin using 40x leverage.