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Crypto Chaos: How James Wynn Lost $87M Faster Than You Can Say “Bitcoin!”

BBG News

TL;DR

  • Once upon a time, in the wacky world of crypto, there lived a man named James Wynn. Known for his daring trades, he was the rock star of the digital asset realm—until, poof! His fortune vanished faster than a magician’s rabbit! 🎩✨
  • In a twist that would make even the best storytellers chuckle, an anonymous trader made a cool $5.6 million by simply doing the opposite of what Wynn did. Talk about a plot twist! 😂

The Adventures of Wynn

Earlier this month, our hero, Wynn, decided to dive into the deep end with a long BTC position worth a staggering $390 million. His liquidation price was a mere $96,600, and he had a margin just shy of $10 million. But wait! Like a kid in a candy store, he cranked it up to a jaw-dropping $1.25 billion with a 40x leverage! 🍭💰

At one point, he was riding high on a wave of unrealized profits, basking in the glory of $87 million as BTC soared above $110,000. But then, like a balloon popped by a mischievous pin, the market took a nosedive after Donald Trump threatened tariffs on the EU. Oopsie daisy! 🎈💥

As the market plummeted, so did Wynn’s gains. He flipped bearish, opening a short position of 1,038 BTC at $107,711, with a liquidation price of $149,100. Eventually, he threw in the towel, closing all contracts with a profit of $25 million. Not too shabby, right? Or is it? 🤔

For all my haters out there who so very much loved to see my portfolio swing down by $60,000,000, just know, now you get to see it swing BACK UP INTO THE HUNDREDS OF MILLIONS. I repeat HUNDREDS OF MILLIONS. Money that haters like you can’t even dream of having because…

— James Wynn (@JamesWynnReal) May 27, 2025

But wait, there’s more! Just hours after announcing his profits, Wynn was back in the casino, long BTC with 40x leverage again. “The portion size reaches 684 BTC ($75.34M), and the liquidation price is $103,120,” Lookonchain reported. Talk about a gambling addiction! 🎲💸

Wynn, the PEPE enthusiast, had also spent $182,000 on 7.2 trillion tokens, selling 6.76 trillion for nearly $34 million. He left a measly 443.7 billion PEPE, worth over $6 million. Not too shabby for a meme coin, eh? 🐸💚

Betting Against Wynn and Big Loss

Meanwhile, on the decentralized exchange Hyperliquid, a savvy trader was watching Wynn’s every move. This clever cookie made $5.6 million in just three days by betting against him! Every time Wynn went long, this trader went short, and vice versa. It was like a game of cat and mouse! 🐱🐭

On May 24, this mysterious trader opened a short position in BTC and ETH, closing it the next day for a profit of $1.36 million. Then, when Wynn opened a BTC short position, our clever trader went long, raking in another $2.54 million. Finally, they opened short positions again, netting $1.7 million (at least on paper). What a rollercoaster ride! 🎢💵

Some speculated that this mysterious trader might be Wynn himself, playing a sneaky game from another account. But Wynn was quick to deny it, saying:

“Not happy with this post at all. Whoever trader 0x2258 is, it is not me and I have no clue who it is. I only trade on one HL account and that’s public. Don’t start spreading fake news with zero proof.”

In the end, the latest Lookonchain update revealed a painful truth: it took Wynn 70 days to build his $87 million portfolio, but only five days to lose almost all of it. Ouch! 😱

James Wynn(@JamesWynnReal) has wiped out almost all his profits on #Hyperliquid. It took him 70 days to go from 0 to $87M+ in profit, and only 5 days to lose almost all the $87M+ in profit.

— Lookonchain (@lookonchain) May 28, 2025

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2025-05-28 18:43

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