James Wynn, a high-stakes crypto trader who rose to prominence after placing a failed $1.25 billion bet on Bitcoin, lost about 240 BTC, worth roughly $25 million, in a liquidation event on Wednesday, according to LooksOnChain and on-chain data.
Wynn also closed part of his position in an attempt to prevent further losses.
This is part of Wynn’s second leveraged Bitcoin position taken out for nearly $100 million just days after his highest-profile loss to date.
The trader still has an open long position of $82 million on Bitcoin at 40x leverage, with a liquidation price of $103,930. Wynn, thought to be a multi-millionaire, currently faces a P&L (i.e., profit and loss) of about negative $906,000 as of Wednesday. His entry price was $106,066.
Bitcoin, the first and largest cryptocurrency by market capitalization, is currently trading near $105,000, according to The Block’s data page.
Wynn, also known as “moonpig,” gained notoriety for his massive, risky trades on the decentralized perpetual futures platform Hyperliquid in May, including an $830 million BTC long position that was scaled up to $1.25 billion before ultimately being liquidated, resulting in losses well over $100 million for the trader.
The trader closed out May with just $37 in his account, after taking similarly failed swings on memecoins like Fartcoin, PEPE, and TRUMP as well as “majors” like ETH and SUI. At times, these have been profitable trades — had he taken money off the table. Despite his notable public losses, Wynn said over the weekend he plans to “run it back.”
Wynn’s association with Hyperliquid is currently unknown. Wintermute founder Evgeny Gaevoy has proposed the idea of becoming a paid actor to draw attention to the platform. For his part, Wynn has claimed that major market makers are deliberately targeting his liquidation price.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
