James Wynn's recent earnings from a series of high-risk trades have now been almost completely lost. As his current bets approach the liquidation threshold, Wynn is now also on the verge of losing the principal associated with that position.
According to EmberCN, Wynn made a profit of 11.67 million USD by going long on Trump Coin (TRUMP) and Fart Coin (FARTCOIN) during the period from May 12 to 13. However, on May 23, he lost 5.29 million USD by going long on Ethereum (ETH) and Swiss Franc (SUI).
On May 24, Bitcoin bulls experienced a brief rebound.
Bitcoin -1.34% Bitcoin and Pepe (PEPE) brought him a profit of 42.08 million USD. However, during the period from May 25 to 27, he suffered a loss of 16.72 million USD due to shorting BTC and going long on PEPE, causing the gains to shrink again.
As of the time of writing, Wynn's open BTC long position has generated an unrealized profit and loss of 718,098 USD. He currently holds a long position of 1,840 BTC, with a leverage of 40 times, valued at 200,347,340 USD. The opening price of this position is 109,228 USD, and his liquidation price is 102,257 USD; if the market turns against him further, his principal will be at risk. The current BTC price is 108,874 USD, leaving only 6% until liquidation.
However, James Wynn is unreservedly determined to recover the losses. He wrote in a tweet aimed at those who are pleased by the shrinking portfolios:
To all who hate me, how much do you wish to see my portfolio shrink by 60 million USD... Now, you should know, it has bounced back to several hundred million. People like you, who hate me, could never dream of having so much money because it is far beyond your capabilities. Enjoy the show.
Wynn may have already begun efforts to recover losses. According to monitoring by The Data Nerd, a whale address believed to be related to Wynn recently deposited 4.4337 billion PEPE (worth about 6.17 million USD) into Binance. These tokens were accumulated at a very low entry price, yielding a return of 11,117 times.
