Cardano founder Charles Hoskinson says the network must undergo growing pains to “win” against other blockchains. The first step for Cardano will be to solve its lingering stablecoin issue, but critics argue that Hoskinson’s proposed solution is not the ideal strategy. ‘Grow Up or Die,’ Says Charles Hoskinson As criticism mounts over a proposal to
Gemini filed for an IPO, following in the footsteps of Circle’s recent successes. Nonetheless, this move has caused skepticism in the community as some KOLs wonder if this IPO is a bubble indicator.
The company has shown interest in an IPO for several months, and Cameron Winklevoss recently teased big future developments in a public appearance.
Still, this Gemini IPO is not necessarily a huge surprise; the firm teased such a development for months. At the recent Bitcoin Conference, Cameron Winklevoss described bold plans for his firm and the crypto industry as a whole. An IPO would certainly fit the bill. Nonetheless, some influential community members wonder if this is oversaturating the market:
“Oh boy, here comes the next one already. So we have Bitcoin Treasury companies and IPOs this cycle. Doubt Gemini is a good investment, but neither is Circle, and look what they’re valued at. Bubble forming,” WhalePanda claimed via social media.
In other words, some KOLs believe that Gemini’s IPO might represent a market top indicator. The firm has made some advancements recently, but an IPO doesn’t necessarily signal strong fundamentals. Whatever happens, it’s still in the early stages.
A crypto trader known as James Wynn has sparked widespread interest after reportedly earning over $46 million in profits within just two months on the decentralized exchange Hyperliquid.
Since March, he has bagged surprising profits by a series of high-leverage positions on Bitcoin and various meme coins, including PEPE, TRUMP, and Fartcoin.
Hyperliquid Trader Criticizes CEXs While Riding $46 Million Profit Wave
Since then, he has placed aggressive long positions with leverage ranging from 5x to 40x. Five of those positions remain open and are still generating significant unrealized gains.
Lookonchain reported that Wynn’s most lucrative position is a 10x long on meme coin PEPE, which has delivered approximately $23.8 million in unrealized profits. He also holds a 40x long on Bitcoin with about $5.4 million in paper gains.
Other notable trades include a 10x long on the Trump token, which netted $5.57 million. Another trade involves a 5x long on Fartcoin, which generated $5.15 million, and a 5x long on HYPE, which has yielded around $31,000.
His strategy and consistent performance have put him at the top of Hyperliquid’s trader leaderboard.
In the past 24 hours alone, he reportedly earned $11.4 million, further cementing him as one of the platform’s most successful traders.
Hyperliquid Top Traders List. Source: X/James Wynn
Hyperliquid User Base Continues to Grow Despite Controversy
Meanwhile, Wynn has gained attention not just for his profits. He has also become a vocal supporter of Hyperliquid and a harsh critic of centralized exchanges.
In public posts, he alleged that platforms like Bybit manipulate token listings for internal gain, suggesting they often introduce tokens to dump them on retail traders.
He stated he would reject a $1 million monthly offer to trade on Bybit, citing ethical concerns.
They want me to trade on ByBit, I won’t stop using HyperLiquid even if they offer me $1m a month.
Half the reason I’m shilling my trades publicly is because I want HL to dominate the exchange market share because other exchanges are corrupted.
Hyperliquid is designed for perpetual futures trading and delivers rapid on-chain execution. The platform lets users control their funds fully without intermediaries, making it an attractive choice for many day traders.
Due to this, the platform’s rise has been swift over the past year. According to DeFiLlama, Hyperliquid now commands over 60% of the decentralized perpetual market, up from 44% as of the end of 2024.
SEC Chair Paul Atkins has again shown his intention to create a regulatory-friendly environment for the crypto industry. This time, Atkins spoke in favor of the right to self-custody at the SEC crypto roundtable and revealed that he has directed the staff to see if they need to provide further guidance on DeFi activities. Paul
(@JamesWynnReal) May 2, 2025
