James Wynn: Leveraging 40x to long BTC is not gambling, but rather a strategy to acquire more BTC before the US dollar collapses

June 6th. The top trader Eugene Ng Ah Sio made a post on his personal channel, saying, "I am currently holding a long position in Ethereum. I have set a stop-loss at the low tail point of $2380 in the morning (which is also the level of retesting the mid-term range bottom). The technical structure is clear."

On June 6th, based on SoSoValue data, the cryptocurrency market sector has witnessed a consecutive three-day decline, with the decline ranging from approximately 2% to 8%. Bitcoin (BTC) decreased by 2.95% and dipped to around $100,000. Ethereum (ETH) fell by 7.23% and briefly dropped below $2,400. Additionally, the Meme sector declined by 8.04%. Within this sector, OFFICIAL TRUMP (TRUMP) and Pepe (PEPE) dropped by 10.00% and 10.68% respectively, while Fartcoin (FARTCOIN) went against the trend and rose by 8.34%. In other sectors, the PayFi sector saw a 4.25% decline in the past 24 hours. Keeta (KTA), which had previously experienced significant gains, fell by 14.05%. The CeFi sector declined by 4.45%, with Hyperliquid (HYPE) dropping by 5.71%. The Layer1 sector dropped by 4.59%, with Cardano (ADA) and Sui (SUI) falling by 6.39% and 7.35% respectively. The DeFi sector dropped by 6.03%, with Chainlink (LINK) and Aave (AAVE) falling by 6.29% and 8.20% respectively. The Layer2 sector dropp

On June 6th, the most recent intelligence obtained by the SlowMist Security Team indicates that the North Korean Lazarus hacking group is employing a novel stealthy information-stealing trojan named OtterCookie to launch targeted attacks against cryptocurrency and financial professionals. The tactics utilized encompass forging high-paying job interview/investor talk invitations, using deepfake videos to pose as the recruiting party, and disguising malware as "programming test questions" or "system update packages". The targets of theft encompass browser-stored login credentials, passwords, and digital certificates within the macOS Keychain, as well as cryptocurrency wallet information and private keys. SlowMist advises to remain on high alert against actively presented job/investment invitations. It is recommended to conduct multi-factor authentication for remote interviews and avoid running executable files of unknown origin, especially those disguised as "technical test questions"

On June 6th, as monitored by on-chain data analyst Yu Jin, the address of Rune Christensen, a co-founder of Sky (formerly MakerDAO), used staking rewards to repurchase 4.33 million SKY tokens (approximately $330,000) in the past two days. A few days ago, Sky launched staking SKY to earn USDS rewards. Rune's address staked 3.16 billion SKY tokens (approximately $229 million) and is currently earning about 100,000 USDS per day. On the 4th and early today, he claimed two staking rewards totaling 330,000 USDS and then purchased 4.33 million SKY tokens at a price of $0.076 per token.

On June 6th, James Wynn posted on social media, indicating that he had just begun to participate in perpetual contract trading since March of this year. He had never engaged in serious trading before; at most, he had only played around with MEME coins. In just one month, he leveraged $3 million to $1 billion and then lost it all within a week on HyperLiquid. At that time, he was just having fun, but the on-chain data was public. Tens of thousands of people witnessed his account soar and then plummet, so he simply let it go. Later, things gradually got out of control. He realized that this was essentially gambling. He both wanted to recover his losses and was afraid of being mocked with "You can't even hold on to $1 billion earned," so he dug himself deeper. The fluctuating numbers on the screen turned into a virtual game, and greed completely took over.

On June 6th, as per the monitoring of OnChain Lens, during the market's downturn, the short positions of Abraxas Capital on BTC, ETH, SOL, HYPE, and SUI in 2 wallets on HyperLiquid are currently demonstrating an unrealized profit of more than $55 million.