April 9, 2025

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Andrew Kang's Big Long

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    Hyperliquid trader 0xBb87 on Arkham
    Hyperliquid trader 0xBb87 on Arkham

    An address funded by Mechanism Capital founder Andrew Kang, 0xBb87, deposited $2.5M onto perpetuals DEX, Hyperliquid yesterday, opening a 40x levered BTC long trade. The position grew to a value of 1,292 BTC or $100M at the time, with a liquidation price of $77,248. The position was opened shortly after a post from US President Donald Trump on Truth Social, saying that it was “a great time to buy”.

    Trump’s post on Truth Social
    Trump’s post on Truth Social

    While they were almost liquidated by an early market move by BTC, the position was ultimately saved by Trump’s announcement of a 90-day pause in all tariffs except on China, which resulted in a market-wide rally. The trader later closed out ~20% of his position, realizing a profit of ~$2.5M. The remainder of the position is being closed out over time via TWAP orders.

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