The theory that James Wynn is a fake trader performing two specific functions continues to seem plausible.
Let's remind both functions:
1️⃣Through Wynn, another position is hedged (most likely on Binance). Thus, he is simply one "leg" of a market-neutral strategy.
2️⃣Since the moment Wynn's account attracted the attention of the entire world, he has also played the role of a reputational battering ram, demonstrating the downsides of the decentralized exchange Hyperliquid. Accordingly, the position opened on Wynn's side always has less chance of being successful within the market-neutral combination of a very large player with insider knowledge.
◽️Despite the bull market and some period of profit, Wynn is again sitting on huge losses. Over the week, his PnL amounted to approximately -$1.2 million 🔻
◽️And this is in a rising market, where it is not so difficult to trade. Moreover, Wynn gained fame precisely during the periods of bullish short-term cycles, as he belonged to the category of network marketers who inflated stories about "Bitcoin hitting a million in two months." And suddenly, even in such a market, he is sitting in significant losses. That is, no matter what happens with the quotes, he ultimately generates a loss. At the same time, he always manages to pull half a million dollars from somewhere for a new deposit.
✅ A lot has been written in the comments about this case; you can search using the relevant keywords in the chat.
➡️ The conclusion here is simple: Wynn can be useful as an indicator. He is a kind of "reverse King Midas." His trades can be tracked here.
➡️ At the same time, there is no convincing evidence for the theory. This is just a version based on the analysis of publicly available information.