Bitcoin Trader Who Lost $100M on $1B Long Position Returns With New High-Leverage Bets on PEPE and BTC

Summary: James Wynn, the infamous cryptocurrency trader who lost $100 million earlier this year after leveraging $1 billion on Bitcoin, has returned to the market. Now, he’s doubling down with aggressive new trades on meme coin PEPE and Bitcoin, raising concerns across the crypto community.

Background: Wynn’s $1 Billion Bitcoin Bet and Massive Loss

James Wynn made headlines earlier this year after placing a $1 billion long position on Bitcoin (BTC), only to see the trade go south when the price dipped below $105,000. The position—backed by significant leverage—was liquidated, resulting in a $100 million loss equivalent to 949 BTC. The incident drew intense scrutiny from market participants and forced Wynn offline amid widespread criticism of his trading habits and risk management practices.

Wynn Resurfaces With 10x Long on Meme Coin PEPE

After months of silence, Wynn has returned and is reportedly making leveraged bets once again—this time focusing on meme token PEPE. On-chain data via Lookonchain shows that Wynn reactivated his previous wallet on the decentralized derivatives exchange Hyperliquid, placing a new trade with 10x leverage on kPEPE.

Wynn’s position, valued at approximately $89,000, is funded by a 6,792 USDC referral reward. The trade, involving over 6.8 million kPEPE tokens, leaves little margin for error; a 10% drop in PEPE’s value could fully liquidate the position. Despite its smaller scale relative to his past trades, this latest move continues Wynn’s pattern of high-risk strategies.

Community Reactions and Risk Management Criticism

Wynn’s return has reignited discussions about responsible trading and leverage in crypto markets. Several crypto community members have labeled Wynn a “degen trader,” with others questioning his risk management approach. His prior $1 billion BTC long trade—which ended in a massive liquidation—has become a cautionary example within the trading ecosystem.

Wynn Takes On $23.9M Bitcoin Long With 40x Leverage

In addition to his PEPE trade, Wynn has made an even bolder move with Bitcoin. Blockchain analytics indicate he deposited 468,000 USDC into Hyperliquid and opened a long position valued at $23.9 million using 40x leverage. The position, consisting of more than 202 BTC, has a liquidation threshold at $115,570—meaning a 2.5% drop in the BTC price would erase the entire margin.

Given the highly volatile nature of crypto markets, this 40x bet is significantly risky, exposing Wynn to potential rapid liquidation. Nonetheless, his trades show unwavering confidence in Bitcoin’s upside potential—even after substantial past losses.

Market Outlook

Wynn’s return and aggressive tactics offer a glimpse into the enduring allure and risk of leverage trading in best crypto platform. While some view his re-entry as a high-stakes comeback, others see it as a harbinger of further volatility. For now, the market watches closely as Wynn once again tests the limits of decentralized finance and margin trading.