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James Wynn, the Trader Who Bet $ 1B on Bitcoin, Is Now Long $PEPE

One of the most closely watched crypto wa,llets in recent weeks is now betting on pepe (PEPE), days after drumming up a record billion-dollar notional position on bitcoin BTC on the on-chain trading platform Hyperliquid.

The wallet has gone long on PEPE with $ 1 million at 10 x leverage, flipping from billion-dollar bitcoin trades to high-stakes memecoin bets. The position is already up $ 500,000 as of European morning hours, with Pepe up nearly 6% in the past few hours.

Pseudonymous trader “James Wynn” — known as “Moo npig” on decentralized ex change Hyperliquid — closed their $ 1.2 billion BTC long position with a $ 17.5 million loss on Monday.

Wynn then opened a $ 1 billion short using 40 x leverage, effectively wagering their entire $ 50 million wallet on the downside. Both positions are a record for an on chain platform and represent the biggest bets placed entirely on a blockchain-based service.

Wynn’s new short was opened at an average price of $ 107,077, and has already netted about $ 3 million in profit as BTC hovered just below that level Monday, before losing some value.

The trade is a high-risk musical chairs event: if BTC rises above $ 110,446, Wynn’s position could be liqu idated unless additional collateral is posted, data shows.

That position is since closed and Wynn said on X stepping away from perpetual trading altogether. They have netted a total profit of $ 25 million from an initial above $ 3 million, the account said on X.

“Now decided to leave the casino with my $ 25,000,000 profit,” he posted. “It’s been fun, but now it’s time for me to walk away a wynner.”

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