在波动不变的市场中，詹姆斯·永利（James Wynn）脱颖而出

永利似乎是投机性交易的一个有争议的数字，似乎是在看涨的浪潮……直到唐纳德·特朗普宣布对欧盟征收大量税款。

In a market where volatility is constantly churning, James Wynn stood out with an extraordinary maneuver: a long position of 1.25 billion dollars on bitcoin at 40x leverage via Hyperliquid. A controversial figure in speculative trading, Wynn seemed to be riding a bullish wave with a triple-digit return over a few months.

在一个不断波动的市场中，詹姆斯·永利（James Wynn）以非凡的动作脱颖而出：通过Hyperliquid以40倍的杠杆作用，比特币的长位数为12.5亿美元。在投机性交易中，永利似乎是在几个月内以三位数回报的看涨浪潮。

However, this daring bet was largely wiped out by a single announcement from Donald Trump about a massive tax against the EU. Within hours, the geopolitical shock reversed the market trend, leaving several traders in a deep hole.

但是，唐纳德·特朗普（Donald Trump）的一项宣布对欧盟征税的一项宣布，这一大胆的赌注在很大程度上被淘汰了。在几个小时内，地缘政治冲击扭转了市场趋势，使几个交易员陷入了一个洞。

Extreme risk-taking : James Wynn on a knife-edge

极端冒险：詹姆斯·永利（James Wynn）

A few months ago, the decentralized platform Hyperliquid narrowly avoided disaster before stabilizing its situation through technical adjustments and rigorous risk management.

几个月前，该分散的平台超流动局部狭窄地避免了灾难，然后通过技术调整和严格的风险管理稳定了灾难。

On May 24, James Wynn, a high-risk trader and now an emblematic figure of this infrastructure, pushed the use of leverage to its peak with a long position of 1.25 billion dollars on Bitcoin.

5月24日，詹姆斯·永利（James Wynn）是一位高风险交易员，现在是该基础设施的象征人物，将杠杆的使用推向了其高峰，长期以来在比特币上的长度为12.5亿美元。

Indeed, as reported by Lookonchain, Wynn had already closed his investment on the memecoin PEPE, generating a profit of 25.2 million dollars. He then reallocated these gains to his bitcoin bet, shortly after incurring 5.3 million dollars in losses on positions in Ether (ETH) and Sui (SUI).

确实，正如Lookonchain报道的那样，永利已经关闭了对Memecoin Pepe的投资，产生了2520万美元的利润。然后，他将这些收益重新分配给了他的比特币下注，不久之后不久，在Ether（Eth）和Sui（Sui）的职位上造成了530万美元的损失。

These portfolio adjustments reflect an aggressive strategy where reactivity and maximum risk-taking seem to outweigh diversification.

这些投资组合调整反映了一种积极的策略，其中反应性和最大冒险似乎超过了多元化。

The evolution of his bitcoin position, spread over several days, demonstrates a calculated but extremely bold approach, marked by strong market exposure :

他的比特币位置的演变在几天内分布，表明了一种以强烈的市场风险为特征的计算出但极其大胆的方法：

Wynn, active on Hyperliquid for two months with an initial deposit of 4.65 million dollars in USDC, describes himself as a “high-leverage and high-risk trader”. As such, his trading style is emblematic of a new generation of crypto speculators, ready to face the market rollercoaster with extraordinary risk tolerance.

Wynn活跃于超级流动性两个月，最初的押金为465万美元，他将自己描述为“高杠杆和高风险交易者”。因此，他的交易风格象征着新一代的加密投机者，随时准备以非凡的风险承受能力面对市场过山车。

A political announcement that shakes the giants

摇晃巨人的政治公告

The brutal reversal occurred a few hours later, when Donald Trump announced on May 23 his intention to impose a 50 % customs tax on all imports from the European Union.

几个小时后，唐纳德·特朗普（Donald Trump）在5月23日宣布，他打算对欧盟的所有进口征收50％的海关税。

This statement, perceived as a sign of renewed trade tensions, immediately shook all financial markets, including cryptos. The bitcoin price fell below 107,000 dollars, triggering volatility that melted Wynn’s profits.

这一说法被认为是新的贸易紧张局势的标志，立即震惊了包括加密货币在内的所有金融市场。比特币价格低于107,000美元，引发了融化Wynn利润的波动。

This situation caused a net loss of 29 million dollars in a single day, according to HypurrScan data. Other cryptos like Ether were also swept away by the wave, falling to 2,504 dollars, while memecoins collapsed.

根据HyburrScan数据，这种情况在一天内造成了2900万美元的净亏损。像Ether这样的其他加密货币也被波浪扫除，跌至2,504美元，而Memecoins崩溃了。

Although this loss seems spectacular, it has not wiped out the trader’s overall performance. Indeed, James Wynn still shows a profit of 57 million dollars since launching his operations on the platform, including 46 million made in the past month alone.

尽管这种损失似乎很壮观，但尚未消除交易者的整体表现。确实，詹姆斯·永利（James Wynn）自从在平台上启动其业务以来，仍然显示出5700万美元的利润，其中包括仅在过去一个月中制造的4600万美元。

However, this sudden drop starkly reminds us that, in such an unstable market, massive high-leverage positions can collapse on a simple political declaration, as unpredictable as it is external to the sector’s fundamentals.

但是，这种突然的下降迅速地提醒我们，在如此不稳定的市场中，大量的高杠杆立场可能会在简单的政治宣言中崩溃，这是该行业基本面外部的不可预测。

Beyond Wynn’s particular case, this episode raises a global issue: the increasing exposure of the crypto market to global geopolitical dynamics. Like traditional assets, bitcoin now reacts almost instantly to major political events, which increases complexity and risk for investors.

除了永利的特殊情况之外，这一集提出了一个全球问题：加密市场对全球地缘政治动态的曝光日益增加。像传统资产一样，比特币现在几乎立即对重大政治事件做出反应，这增加了投资者的复杂性和风险。

While Wynn has managed to stay afloat, many less experienced traders might not withstand such shocks. As platforms like Hyperliquid attract more high-risk profiles, the question of the system’s resilience against factors amplifying crypto crashes during macroeconomic volatility remains open.

尽管永利设法保持漂浮，但许多经验不足的商人可能无法承受这种冲击。随着诸如Hyproliquid之类的平台吸引了更多的高风险概况，因此该系统对在宏观经济波动期间放大加密货币崩溃的因素的弹性问题仍然开放。