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- James Wynn, a high-leverage crypto trader, lost $4.8M after his 40x BTC and kPEPE positions were liquidated on Hyperliquid. - His aggressive trading style and public bets have sparked debate, with critics warning of risks from excessive leverage and predatory market behavior. - Hyperliquid's TVL and trading volumes surged due to Wynn's activity, highlighting both platform growth and systemic risks in leveraged trading.