Whale Rotates to Leveraged Tesla Bets After Massive Bitcoin Losses

A high-profile whale trader on decentralized perpetual exchange Hyperliquid shifted into synthetic equities following steep crypto losses. The trader accumulated roughly $46 million in total leveraged exposure—including a $34.6 million, 20x leveraged long position in Tesla (TSLA)—backed by just $2.83 million in collateral ahead of Tesla's October 21 earnings report. The rotation followed the closure of underwater crypto bets, where the trader booked a $3.26 million loss on Bitcoin and brought cumulative weekly losses to $9.53 million, having earlier closed an Ether long for a $1.08 million loss.