According to reports from BlockBeats News and Ashes Monitor, on June 5, after James Wynn's long Bitcoin position was liquidated, a whale investor who had previously earned a profit of 28 million USD on the Hyperliquid platform closed their short position to realize gains and then reversed to open a long position. This investor bought 1,281 Bitcoins with 12x leverage, with a notional value of approximately 134 million USD, and also bought 35,939 Ethereum with 25x leverage, with a notional value of about 94.19 million USD. Currently, these positions are near the liquidation price of James Wynn’s position, with an unrealized loss of approximately 1.93 million USD. Previously, Arthur Hayes speculated that James Wynn might have conducted hedging trades through anonymous addresses to obtain the next round of Hyperliquid airdrop rewards.