$60M Crypto Meltdown — James Wynn’s Rise and Fall
The post $60M Crypto Meltdown — James Wynn’s Rise and Fall appeared on BitcoinEthereumNews.com.
Key Notes Crypto trader James Wynn lost $60M in a week after high-leverage Bitcoin bets on Hyperliquid unraveled. He once turned $7K into $25M but saw massive swings on billion-dollar positions in May 2025. Wynn has since quit perpetual trading, citing market volatility and lessons in risk management. Crypto trader James Wynn—known by his pseudonym “moonpig” on the decentralized exchange Hyperliquid—experienced a staggering $60 million loss over seven days in May 2025. This episode highlights the risks associated with high-leverage trading in the volatile cryptocurrency market. The Ascent: From Memecoins to Billion-Dollar Bets Wynn’s trading journey began in 2022, reportedly with backing from Alameda Research. He gained prominence by turning a $7,000 investment in the meme coin PEPE into $25 million, leveraging high-frequency trading strategies. By March 2025, Wynn had deposited $4.65 million in USDC on Hyperliquid, executing 38 trades primarily in Bitcoin and various meme coins, amassing $46.5 million in profits by May 10. The Descent: A $1.25 Billion Bitcoin Position Unravels On May 19, Wynn opened a 40x leveraged long position of 5,520 BTC at $103,302, with a liquidation level at $98,294. He expanded this position over the next two days, reaching 9,371.71 BTC valued at over $1 billion, with unrealized gains of $10.71 million. However, on May 23, Bitcoin’s price dropped 4% to $106,700 following former President Trump’s announcement of a possible 50% tariff on EU imports. Wynn responded by closing a separate PEPE position with a $25.18 million gain and increased his Bitcoin long to 11,588 BTC at $108,243. This move proved costly; on May 25, he exited at $107,746, incurring a $13.39 million loss. The top trader @JamesWynnReal went long on $PEPE with 10x leverage again, with an unrealized profit of $130K.https://t.co/FX6sISVWOhhttps://t.co/YLO2XD1MIq pic.twitter.com/q8khoLvA3v — Lookonchain (@lookonchain) May 26, 2025 Subsequently, Wynn shifted to a short…
Filed under: News - @ May 28, 2025 9:26 pm