How a Crypto Whale GAMBLER Lost $60M in a Day
James Wynn, a big-name trader, just got wrecked on Bitcoin—here’s what happened:
The Setup
May 19: Went 40x long on $550M worth of BTC (~5,520 BTC at $103K)
May 20-21: Doubled down, pushing his position over $1B
At one point, he was up $39M as BTC neared $112K
Where It Went Wrong
May 23: BTC dropped 4% after Trump’s tariff news
May 24: Tried to recover by closing a Pepecoin trade (+$25M) and adding more BTC longs
May 25: Liquidated at $107,746, losing $13.4M
Same day: Flipped to shorting $856M worth of BTC
May 26: Got squeezed again, losing another $15.9M
The Lesson
Leverage kills – 40x is a ticking time bomb
Revenge trading fails – Going from long to short in panic just burns more cash
Even pros get wrecked – No one’s invincible in crypto
Moral of the story? Trade small, sleep well.
