CandleFocus Crypto millionaire loses over $40 million with this trade
2024-09-14
Author: Content Editor
James Fickel, a millionaire cryptocurrency investor, has lost over $40 million in decentralized finance (DeFi) leveraged trades since January 2024. Fickel borrowed Wrapped Bitcoin (wBTC) on Aave, exchanging it for Ethereum (ETH) and shorting BTC with ETH. He has since partially closed this position, repaying his debt at a loss. Fickel's current crypto net worth is nearly $400 million, mostly in ETH derivatives. Despite this, the ETH/BTC pair trades at a level of opportunity that analysts believe will lead to a surge in ETH's value against BTC.
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