On June 9, a freshly created wallet — tagged 0x1f25 — funded itself with $10 million in USDC and immediately opened a 511.5 BTC position on Hyperliquid, an increasingly popular decentralized exchange known for degens with deep pockets and high pain tolerance.

The trade? A 20x leveraged long on BTC at $106,538.

That means the trader is risking total liquidation at $88,141 — but if BTC keeps climbing, the payoff could be exponential. At $108K, they’re already up $11K on paper. Not life-changing, but it’s just the opening act.

Crypto sleuths suspect the wallet belongs to James Wynn, a notorious high-stakes trader with a mixed record. Wynn recently got wrecked for over $120 million in leveraged longs as BTC dipped below $105K in late May and early June. But if this is Wynn, it looks like he’s back at the casino table — and he’s doubled down.