High-stakes crypto trader James Wynn has publicly criticized decentralized exchange Hyperliquid, declaring its end is near due to what he describes as a “broken” referral system. In a series of pointed posts on X, Wynn accused Hyperliquid of undervaluing its community promoters and ignoring partnership opportunities that could have fueled further adoption. Wynn claims to have earned $34,000 through referrals on the platform—an amount he argues is disproportionate to the high volume of traffic and signups his activity generated. “Their referral program sucks,” Wynn stated bluntly. “Other platforms have far better.” CZ’s Dark Pool DEX Could Be Next Big Shift Rather than continuing to back Hyperliquid, Wynn is shifting his attention to the growing momentum behind privacy-focused trading solutions. He highlighted Binance founder CZ’s proposal for a dark pool DEX as a potential game-changer. Dark pool exchanges allow users to execute large trades anonymously, avoiding front-running and slippage—features Wynn suggests are increasingly attractive to high-risk, high-volume traders. Already, privacy-centric projects like COTI have launched DEXs inspired by CZ’s vision, although it’s still unclear whether Zhao himself plans to release his own platform. Wynn believes it’s only a matter of time, emphasizing CZ’s deep industry connections and proven track record. “CZ has the money, network, teams to build something like other,” Wynn added. “Look at what he’s done with Binance.” Hyperliquid Rally Tied to Wynn’s Activity Despite his criticisms, Wynn’s presence has undeniably boosted Hyperliquid’s visibility. The exchange saw a notable increase in trading volume after Wynn began actively trading perpetual contracts there. In parallel, the price of HYPE, Hyperliquid’s native token, climbed nearly 50% in the past month. Prominent figures like Arthur Hayes have even speculated that HYPE could touch $100 if the buzz around Wynn’s trading continues. Yet, the trader maintains he was never financially incentivized by Hyperliquid. “I was not paid a single cent by Hyperliquid,” he clarified, dismissing previous rumors that his high-leverage trades were part of a covert marketing strategy. Now distancing himself from the platform entirely, Wynn has vowed to step back from perpetual trading after suffering significant losses . He has also accused dominant players of exploiting the transparency of DEXs to manipulate prices and trigger liquidations. The post James Wynn Slams Hyperliquid for its Referral Model, Predicts the DEX’s Downfall appeared first on TheCoinrise.com .
