Hacking News
Whale dumps BTC at loss and bets on Tesla
A whale wallet, identified as 0x30af, dumped a $98 million long position in Bitcoin at a loss on October 18. The same wallet then placed a $46 million long position in Tesla at 20x leverage on the Hyperliquid platform. The BTC position closed at a $3.26 million loss, while the Tesla position is currently down about $204,000. The account, which has max leverage, is considered risky due to its high exposure and limited margin. The whale's actions are seen as a warning for other traders, as the Tesla position is now at risk of liquidation with a 2% drop in price at 20x leverage.