The high-profile crypto trader known for his audacious bets, James Wynn, has suffered a staggering loss of $17.5 million in the recent market uncertainty.
The pseudonymous trader captivated the crypto community with his bold strategies throughout the past few weeks, but his latest X post suggests that he might be going on a break after ‘exhausting losses.’
“Its been a fun ride. Approx $4m into $100m and then back down to a total account loss of $17,500,000,” Wynn said in his X post, “the time has come for me to return to where I came from. The place that helped carve me into the gigantic degenerate I’am today.”
Wynn’s saga began with a meteoric rise, with him turning a mere $7,000 investment in the Pepe meme coin into $25 million and amassing $83 million in unrealized profits at his peak. However, his aggressive leverage trading strategy proved perilous as his recent $1.25 billion Bitcoin long position on Hyperliquid forcefully liquidated when Bitcoin price dropped below $105K last week.
On-chain data from Hypurrscan reveals Wynn’s multiple liquidations on the Hyperliquid perpetual DEX, including a 527.29 BTC at $55.3 million and 421.8 BTC at $43.9 million, contributing to a total loss exceeding $100 million.
While Wynn’s trades highlighted a capacity to open billion-dollar positions, such trading strategies underscore the risks of using leverage.
Also read: Binance’s CZ: Now’s Time for a Privacy-Focused Perpetual DEX
