- James Wynn criticizes Hyperliquid’s referral program, predicting its decline.
- He feels poorly compensated despite major influence.
- CZ’s potential new DEX may intensify competition.
James Wynn, a notable crypto trader, has publicly criticized Hyperliquid’s referral program on June 9, 2025, voicing discontent over inadequate compensation despite generating significant trading volume.
Wynn’s critique highlights the program’s shortcomings, suggesting potential declines for Hyperliquid amid poor trader incentives and competitive pressures from platforms like Binance.
James Wynn
A high-profile crypto trader, criticized Hyperliquid’s referral program, labeling it as ineffective. He claimed that the compensation of $34,000 did not reflect his influence on trading volumes. Wynn remains vocal about the lack of financial support from Hyperliquid despite reaching out for partnership deals.
Wynn’s statements on X (formerly Twitter) revealed his concern over the program’s value. He highlighted Binance’s capabilities under CZ to develop a competitor, which could potentially impact Hyperliquid negatively. This public criticism could influence users’ perception of Hyperliquid’s user incentives.
They want me to trade on ByBit, I won’t stop using HyperLiquid even if they offer me $1m a month.
Half the reason I’m shilling my trades publicly is because I want HL to dominate the exchange market share because other exchanges are corrupted.
They will list anything to dump… pic.twitter.com/5AhcyKDw5g
— James Wynn (@JamesWynnReal) May 2, 2025
“CZ has the money, network, teams to build something like other. Look at what he’s done with Binance.”
Wynn’s history of significant trades, including BTC and PEPE, spotlights his influence in the crypto community. His comments may provoke a competitive response within the decentralized exchange sphere. However, no formal reports have confirmed financial or user impact on Hyperliquid following his remarks.
Despite the vocal criticism, impacts on Hyperliquid’s liquidity and user base remain unverified from official channels. Market response remains cautious, with no visible TVL changes tied directly to Wynn’s critiques. Trade sentiments have shown volatility but no confirmed exodus.
The potential launch of a CZ-backed, privacy-focused DEX—if realized—might shift market dynamics. Historical trends show high-volume traders can drive significant shifts, but confirmation of these outcomes requires further analysis. The crypto community watches for technological advancements or regulatory changes influencing future exchanges.
