Daily Dispatch
Posts
Betting against Bitcoin 👀

Betting against Bitcoin 👀

A Hyperliquid trader tapped 40x leverage to take out $521 million worth of Bitcoin shorts. Now some "whale hunters" are pushing to get them liquidated.

Andrew Hayward
March 17, 2025

Together with:

📝 What you need to know

After making waves last week by handing DeFi protocol Hyperliquid a $4 million loss on a leveraged Ethereum bet, a whale trader is now doing much the same with a massive short position on Bitcoin.

The owner of the wallet in question currently holds a $521 million position betting against Bitcoin’s price rising using 40x leverage, and the enormous short has lured some whale hunters in the process. Over the last day, a group of traders have aimed to push the price of Bitcoin higher to try and liquidate the user—and while they’ve thus far failed, the whale did ultimately put in more funds to boost the liquidation price.

Will the whale prevail, or will this pessimistic Bitcoin bet ultimately cause more damage to Hyperliquid in the process? Stay tuned.

Crypto Traders Are Hunting a $521 Million Bitcoin Whale—Here's Why

One trader's $521 million Bitcoin short position on Hyperliquid is being targeted by other traders who want to force a liquidation.

Trump, Associates Net $390 Million Payday From World Liberty Token Sale

The Trump-backed DeFi project World Liberty Financial announced Monday it closed a $550 million sale of WLFI, its governance token.

DOGE Lord Elon Musk Claims US Runs 'Magic Money Computers'

Elon Musk says that his cost-cutting DOGE initiative has identified government computers that have blank-check authority.

Bitcoin, Ethereum ETFs Bleed as Crypto Funds Shed Record $6.4 Billion in 5 Weeks: CoinShares

Crypto funds are weathering their worst five-week stretch of outflows ever, bleeding $6.4 billion in just the past five weeks.

From our partner

Flare Fair is your one-stop DeFi carnival: discover Flare’s ecosystem by completing tasks like bridging, lending, and staking and earn rewards from a 510M FLR pool, as well as FlareDrops. Interact with dApps, explore themed “rides,” and boost your earnings effortlessly. Doors to the Fair are open!

📊 MYRIAD Market of the Day

Will Pectra hit Ethereum mainnet by the end of April?

Trade "Will Pectra hit Ethereum mainnet by the end of April?" on Myriad

💬 Quote of the Day

❝

“I think we are close to the bottom… we might be close to peak bearishness.”

CoinShares Head of Research James Butterfield on crypto ETF losses

🌐 From Our Hubs

🎮️ GG: Razer Aims to Eliminate AI Bots From Games via World's Identity Tech

Gaming brand Razer is teaming up with identity protocol World (formerly Worldcoin) to prove that people are playing games—not AI bots.

🤖 EMERGE: The AI Doctor Will See All of You Now

OPINION: AI healthcare poses major privacy risks, but we have the tools to address them, says Marko Stokic, Head of AI at Oasis Protocol Foundation.

🎭 SCENE: Police Arrest Four Teens Over Amouranth Home Invasion, Attempted Bitcoin Theft

Police have arrested four teenagers in connection with OnlyFans creator Amouranth's home invasion. One suspected posted a $100,000 bail.

📚 Watch and Learn

📹 WATCH: Roman Coppola on the Enduring Relationship Between Film and Technology

Roman Coppola discusses transitioning from Hollywood to Web3, emphasizing community-driven filmmaking, using blockchain to empower creators and democratize film production.

🎓 LEARN: What is Milady? The Edgy Ethereum NFT Community With Vitalik Buterin’s Support

Milady Maker is a controversial and confusing NFT project that has received a co-sign from Elon Musk. Here's the lowdown.