I think that many people have recently heard about James Wynn and how he first boosted his deposit from $3-4mln to $100mln with the help of x40 leveraged futures, then squandered all the unrealized profit and even went into a minus. In fact, futures with such leverage are the same as gambling. In my opinion, his case is a clear example that greed, haste, and unrealistic goals don't lead to anything good.
By the way, he started opened long on BTC again and again after he made this price of BTC went down and he is close to the liquidation again.
It is not very clear what goals James Wynn is pursuing, but his attempts to outplay the market will not lead to anything good, Livermore wrote that you can win for a while, but you can not be right all the time and you need to know when to stop.
I have used futures in trading several times and opened a position when the market was falling and as it seemed to me I found my “bottom”, but then the market fell again and my positions were closed.
Now I trade only spot and no futures, even if I want to get a lot of money quickly.
There are some legitimate doubts as to whether these trades are even real. If they are not real, they are using it as shady marketing stunt as such manipulative practices should not be allowed. If they are real, he is one of the most stupid people to have joined crypto ever. He had won the game, all he had to do was to stop going online and live his life. Instead, he ruined everything. What is worse, these kind of big gains being publicized are manipulating other people into believing that they can also be the lucky winner. A lot of people are using leverage which is very dangerous, and they have very high targets. They always lose money.