#WhaleJamesWynnWatch James Wynn loses 30 million dollars trading bitcoins.

The trader initially turned an initial stake of 4 million dollars into 87 million dollars after going long on bitcoin and Pepe.

But last week, the situation turned against him when he opened a bitcoin position worth 1.25 billion dollars at an average entry price of 108,243 dollars.

Everything was going well until May 24, when Donald Trump threatened a 50% tariff against the European Union through a social media post.

Within hours of that statement, Wynn's position was in the red.

Fearing total liquidation, Wynn exited the trade, incurring a loss of 13.4 million dollars.

In a desperate turnaround, Wynn opened another short position of 1 billion dollars at 107,077 dollars, again with 40x leverage.

But just as quickly, bitcoin prices bounced back to 110,000 dollars after Trump postponed the threat of tariffs until July 9.

Due to the price increase, the short position went red, resulting in even greater losses of 15.8 million dollars.

Overall, Wynn lost nearly 30 million dollars, wiping out a profit of 87 million dollars.