Crypto Advisor Shorts TRUMP Token Using 10x Leverage, Facing Significant Losses

An advisor for World Liberty Foundation Initiative (WLFI), named Ogle, has incurred substantial losses after shorting the $TRUMP token using a 10x leverage strategy on Hyperliquid. This high-risk move resulted in an unrealized loss of approximately $105,000 as the TRUMP token’s price dropped significantly. The advisor opened his position shortly before a surge in activity related to meme coins linked to political figures, contributing to the decline. 274,600 $TRUMP tokens were shorted at a leverage of 10x, leading to potential liquidation at a price point of $12.489. Hyperliquid, a decentralized perpetual exchange platform, enabled this high-risk strategy.