James Wynn, also known by the nickname 'moonpig' on the decentralized trading platform Hyperliquid, is one of the most prominent traders in the crypto community. He rose to fame in late 2020 due to his venture investments in memecoins like PEPE, turning 7,000 USD into over 25 million USD when PEPE peaked at a market cap of 4.2 billion USD. However, his high-risk trading style has also led Wynn into one of the most severe losses in the cryptocurrency market recently.
👉 The 100 million USD liquidation
At the end of May 2025, Wynn opened a long Bitcoin position worth 1.25 billion USD with a 40x leverage – an extremely high-risk level, equivalent to about 11,588 BTC at an average price of 108,243 USD. When the BTC price plummeted below 105,000 USD on May 30, his positions were gradually liquidated: 527 BTC at 104,950 USD and 422 BTC at 104,150 USD. In total, Wynn lost nearly 949 BTC, worth about 99.3 million USD.
In just one week, Wynn's account shifted from an unrealized profit of over 87 million USD to a net loss of 12 million USD. He took to social media X to express his disappointment, claiming the market was 'manipulated,' while advising the community to 'buy and hold' instead of using leverage to trade.
👉 Bold trading and controversies
Wynn not only invests in Bitcoin but also takes large positions in memecoins like TRUMP, FARTCOIN, ELON, and even a token named after himself – WYNN. His promotion and subsequent dumping of small-cap tokens have led many to accuse him of market manipulation for profit.
Wynn's high-leverage strategy also made him a target for other traders betting against him, especially when information about his large positions was closely monitored on decentralized platforms.
Although he recently lost nearly 100 million USD, Wynn does not back down. He continues to open high-leverage positions on Bitcoin and PEPE, clearly showing this is his chosen way to play the game – accepting high risks to seek greater rewards.
👉 Lesson from the fall
James Wynn's story is a clear testament to the dark side of high-leverage trading. When the market is highly volatile, even experienced traders can get caught in a liquidation spiral and suffer heavy losses. The incident also raises many questions about market transparency, price manipulation, and the role of 'whales' in swaying investor sentiment.
🍀 In summary:
James Wynn is a prime example of the risks and consequences of high-risk trading in the world of cryptocurrency. From a big winner to a heavy loser in just a few days, his journey is a cautionary tale for anyone wanting to play big in this market.
