Trader James Wynn Accumulates $22M Losses Shorting S&P 500 With 50x Leverage on Hyperliquid

According to Onchain Lens, trader James Wynn has accumulated losses of approximately $22 million from sustained short positions on the S&P 500 index ($SP500) on Hyperliquid as of July 10. Despite multiple partial liquidations, Wynn opened a 50x leveraged short position about 15 days ago when the index traded near 7,300 points. The index subsequently rallied to over 7,550 points, triggering repeated liquidations.

Wynn currently holds 120.9 $SP500 short contracts with a notional value of approximately $913,000 and a floating loss of $21,000, corresponding to a return rate of -115%.