He went 50x long at $71,400. Twice.

Every day we crown one person who made the worst financial decision on the internet. Today’s winner didn’t just lose money. He timed the top of a three-day crash to the hour.

Here’s the setup. Bitcoin was sitting at $71,765 on June 2nd. Our guy saw it bounce off $70K twice in two weeks and decided this was the floor. Bulletproof support. Time to go big.

So he opened a 50x leveraged long on BTC-USDT perpetuals. At $71,400. With $4,290 in margin.

For context: 50x leverage means a 2% move against you wipes out your entire position. Bitcoin moves 2% before most people finish their morning coffee.

He didn’t stop there. He added to the position three more times as it started dipping. Dollar-cost averaging into a leveraged perpetual futures contract. That’s not a strategy. That’s a disorder.

Total exposure: $214,500 notional. Total margin deposited: $8,740. By the time the cascade started, he was one of 272,000 traders staring at the same red screen.

Bitcoin hit $67,895 by the end of June 2nd. His position was liquidated at $69,800. The entire margin — gone in 4 hours and 22 minutes.

One problem: he didn’t learn. He re-deposited the next morning. Another $4,100. Another long. This time at $67,200. Bitcoin kept falling to $61,655 by June 4th.

He lost $214,500 in notional value across two liquidations in 48 hours, all because he thought a 2% bounce was a floor.

The leverage ratio on the BTC futures market that day was 2.63%. The highest since October 6, 2025. The day before the Black Friday crash that wiped out $19 billion. He didn’t check.

His last post: “I’ll be back when the market is rational again.” Brother, the market was rational. It liquidated the guy using 50x leverage. That’s the most rational thing it could have done.

The top comment: “You didn’t dollar-cost average into a leveraged position. You dollar-cost averaged into a liquidation engine.”

One commenter pointed out that 50x leverage on BTC is the financial equivalent of driving 180 mph in a school zone. You might make it through. But the risk-reward ratio is designed for people who don’t do math.

The futures open interest leverage ratio was sitting at 2.63% — the exact same level as the day before October’s Black Friday crash. He could have checked. He didn’t.

Not everybody can be Loss of the Day. But these three gave it their best shot.

Let’s run through the tape.

Here’s the thing about Solana: when Bitcoin drops 14%, Solana drops 40%. That’s not a bug. That’s the feature you ignored.

This guy cashed out $127,800 from his 401(k) in late May. Early withdrawal. 10% penalty plus income tax. He knew about both. He did it anyway.

His thesis: Solana was “criminally undervalued” at $38. He posted a 9-paragraph DD on r/solana explaining why it was headed to $120 by September. The DD had three charts, two of which were from 2024.

He bought 3,363 SOL at an average price of $38.

By June 4th, SOL was trading at $14.20. His 3,363 SOL was worth $47,764. On paper, that’s a $79,836 loss. But add the early withdrawal penalty ($12,780) and the income tax he now owes on money that no longer exists ($35,200 at his bracket), and the real damage is worse.

He owes $48,000 in taxes and penalties on money he already lost.

The IRS doesn’t care about your thesis. The IRS doesn’t read your DD. The IRS sends a bill.

Some stories start sad and get worse. This one starts with a $89,000 inheritance from a grandmother who spent 40 years as a school librarian.

The grandson found $LUNARBULL on Crypto Twitter. The token had been live for 6 hours. The Telegram group had 2,400 members. The whitepaper was a Google Doc with a header image of a cartoon bull wearing a space helmet.

The tokenomics section was one sentence: “100% community driven. No team tokens. Trust the process.”

He aped in. All $89,000. Bought at a $4.2 million market cap.

Four hours and eleven minutes later, the dev removed all liquidity from the pool. $LUNARBULL went from $0.0042 to $0.0000003. The Telegram was deleted. The website returned a 404.

He turned a 40-year librarian’s life savings into $26.70 in under 5 hours.

The wallet that deployed the contract had done the same thing 14 times before. Every single one was visible on-chain. He didn’t check. Nobody checks.

This one is almost elegant in its self-destruction.

A trader sold 40 naked call contracts on NVDA at the $210 strike, expiring June 6th. The premium collected: $18,400. Not bad for a week’s work.

One problem: Nvidia’s Computex keynote was scheduled for June 1st. Jensen Huang announced new AI chip architectures, robotics platforms, and a desktop AI supercomputer. The stock gapped up 9% on June 2nd, blowing past the $210 strike.

He posted his screenshot on June 3rd. Assignment was pending. The broker had already started buying shares at market to cover. His loss, net of premium: $56,000.

His explanation for why he sold calls right before a major product event: “I thought Computex was in July.”

He lost $56,000 because he didn’t Google when Computex was.

Translation: he sold unlimited-risk options on the most important AI stock in the world, one week before its biggest annual event, without checking the calendar. The premium was $18,400. The cost of Googling “Computex 2026 date” was $0.

We track the data because the data is funnier than anything we could make up.

The $LUNARBULL whitepaper was one sentence long. Someone put $89,000 into a project with fewer words than a fortune cookie.

The comment sections this week were working overtime. When 272,000 people get liquidated at once, the survivors get creative.

The comment sections remain the only place on the internet where financial literacy is delivered through blunt-force trauma.

Because the market already took everything else.

That’s the show. $487,300 in combined losses. Four accounts. Four people who will spend the rest of this week explaining decisions that took less than five minutes to make.

The market isn’t your enemy. The market is an indifferent machine. Your enemy is the voice in your head that says “this time is different” at 2 AM while you open a leveraged position on your phone.

See you tomorrow. Try not to make the newsletter.