Hyperliquid degen James Wynn FUDs Binance
Hyperliquid gambler James Wynn claimed that Binance hasn’t posted its proof-of-reserves, implying the exchange was putting it off, before an unhappy Changpeng Zhao labeled his statement as “FUD.”
The now-deleted tweet from the pseudonymous hyperliquid trader said, “BINANCE HAS STILL YET TO POST PROOF OF RESERVES ‼️‼️ Binance has notoriously posted their proof of reserves on the 1st of every month!!”
The former Binance CEO responded, “Bruh… FUD,” clarifying that a snapshot of Binance’s proof of reserves is taken on the first of the month, but that it often takes a few days to publish it.
Read more: Binance moved $8 billion off its proof-of-reserves
A sheepish Wynn replied, “good to know,” and thanked Zhao for kindly informing those that were unaware. He later deleted his original post.
Proof-of-reserves are a snapshot of assets that allow the public to see the crypto assets Binance is holding. Last February, it revealed the exchange had experienced an $8 billion reduction in various crypto assets.
The company’s June proof-of-reserve reveals that all its assets are backed 1:1. It holds very little SOL and ETH on top of its user asset backing, and has significantly increased its non-customer net balances of bitcoin (BTC) from 2,746 BTC in February to 606,080 BTC in June.
James Wynn’s still losing on Hyperliquid
James Wynn has been on a major million-dollar losing streak with his Hyperliquid bets. One of his biggest losses fumbled $100 million in profits, and he has even pleaded for donations to spend on even more hyperliquid bets.
Read more: Hyperliquid loser James Wynn got rekt, gambled $20K in donations
He also shilled a token with accused sex trafficker Andrew Tate that’s now down 97% since its all-time high in May.
Now, as well as losing big on Hyperliquid, Wynn seems to be getting into posting news updates and making over-the-top “bull” posts.
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