Leveraged Nightmare of James Wynn: Inside the Huge Bitcoin Meltdown

Leveraged Nightmare of James Wynn: Trader Loses $25M Betting on Bitcoin Surge

James Wynn, a millionaire leveraged cryptocurrency trader, lost approximately $25 million in Bitcoin after using leverage to wager on a price increase for the cryptocurrency. On June 4, the on-chain analytics site Lookonchain reported to X that Wynn had been liquidated for 240 Bitcoin and that he had manually closed a portion of his investment to minimize the liquidation price. According to Lookonchain, Wynn still had 770 Bitcoin, which was valued at almost $80.5 million at the $104,035 liquidation price.

Crypto Trader Wynn Claims Market Exploitation Amid Heavy BTC Losses

The trader currently has an unrealized loss of around $1 million on his 40x Bitcoin long position, according to data from Hypurrscan. Wynn said in a post to X following the liquidation that he was being taken advantage of by the market. He has made separate appeals for donations to help further his mission of uncovering market fraud.

Wynn’s Wild Bitcoin Ride: $29M Lost, $1.25B Bet, $100M Short

After placing a series of huge, highly leveraged Bitcoin wagers using the trading platform Hyperliquid—where details about Wynn’s position are publicly available—Wynn gained notoriety. After losing $29 million the day before, he went long on Bitcoin with 40x leverage and started a $1.25 billion wager on May 24.

After closing his long position in the cryptocurrency one day later, Wynn bought a short position for $110 million. Lookonchain and Arkham Intelligence reported on May 29 that Wynn had lost $100 million throughout the week. Wynn launched a second $100 million leveraged long position on Bitcoin earlier this week, determined to make $1 billion despite recent losses.

For more up-to-date crypto news, you can follow Crypto Data Space.