When it comes to high-leverage trading, no trader has taken more spotlight than James Wynn. Wynn has even gained himself the nickname “Hyperliquid 40x Trader” because of his high-stakes on Hyperliquid. But, his recent moves have stirred a debate that his trades could be aimed at putting Hyperliquid on the spotlight in the decentralized finance (DeFi) sector. 

With Hyperliquid now growing in traction, several experts have offered their opinion about the subject. So, is James Wynn a daring trader or just a secret PR project for Hyperliquid? 

James Wynn’s High-Leverage Trades 

Over the past week, James Wynn has been making huge bets on Bitcoin(BTC) and PEPE. He managed to turn $4 million into $100 million. But with market manipulation and front-running from other whales, Wynn faced liquidations wiping out the whole $100 million, as per Arkham Intelligence. 

But, Wynn did not regret his huge bets. Rather he expressed that the experience was thrilling for him. “The perps casino was fun. Zero regrets. Flipping $4m to $100m and back down to -$13m is one hell of a thrill. Hope many of you enjoyed it as much as I did,” Wynn shared on May 30. 

But he did not stop there. As per Lookonchain, on June 2, 2025, Wynn made a long position bet on BTC. This time, he staked 945 BTC worth $99.5 Million with 40x leverage and liquidation set at $104,580. 

James Wynn(@JamesWynnReal) is back — opening a $BTC long position of 945 $BTC($99.5M) with 40x leverage.

The liquidation price is $104,580.https://t.co/FX6sISWuDP pic.twitter.com/Cfw3LdBWhq

— Lookonchain (@lookonchain) June 2, 2025

However, the hunt down on Wynn did not stop. Front running and market manipulation has continued with top crypto trader Gordon (Altcoin Gordon) echoing Wynn’s expose of the bad actors in the market.

Changpeng Zhao (CZ), even proposed a dark-pool style DEX to counter risks associated with high-leverage perps trading. A DEX styled this way would reduce transparency which is resulting in whale chasing behaviors attempted at liquidating high stakers like Wynn. 

Are Wynn’s Trades a Sophisticated PR Campaign? 

While others see Wynn’s trades as legitimate bets, others don’t. Rather, Wynn’s high-leverage stakes are seen as a marketing campaign for Hyperliquid – a decentralized exchange (DEX). 

Several experts are in support of the speculations. Notably, Arthur Hayes, the Co-founder of BitMEX exchange believes that the trades are a highly orchestrated marketing strategy. Hayes further claims that Wynn could be counter trading on another dark address. For this, he would be farming for the upcoming HYPE airdrop. 

The founder of Wintermute – Evgeny Gaevoy, also hypothesized that Wynn is Hyperliquid’s promo project. According to him, the tweets by Wynn are perfect, meaning someone else could be behind the profile, further fueling the promo speculations. “But generally I think “wynn” is just a well executed HL promo campaign, well played,” Evgeny posted.  

but generally I think "wynn" is just a well executed HL promo campaign, well played

— wishful_cynic (@EvgenyGaevoy) June 2, 2025

In fact some tweets by Wynn seem to market Hyperliquid. For instance, on announcing his exit from trading perpetual futures, Wynn expressed a heartfelt gratitude to the Hyperliquid DEX. The tweet also mentioned Hyperliquid’s strongholds further adding to the promo speculations. 

“I’ve decided to give perp trading a break. Thank you @HyperliquidX for your hospitality. Your service, impeccable. Your platform [is] exquisite. It’s been a fun ride,” Wynn posted. 

But, despite the speculations, coming to the truth of the matter will be quite difficult. Whether James Wynn’s trades are aimed at marketing Hyperliquid or just legitimate high bets, will only remain concealed to the two parties.