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James Wynn, a crypto trader known by a pseudonym who gained notoriety for transforming meme coin investments into substantial profits, has disclosed that he lost $100 million within days following a series of aggressive leveraged trades on Hyperliquid.
Wynn initially attracted attention by converting a $7,000 investment in the meme coin PEPE into over $25 million, and he shared his experience on Friday via X.
In an open post, he mentioned that he began trading perpetual futures in March, despite lacking any previous experience with derivatives. “I started trading on perps in March, had never traded perps before, in fact never really traded properly before. I’ve just traded meme coins,” he stated.
I started trading on perps in March, had never traded perps before, in fact never really traded properly before, I’ve just traded meme coins. (Before I was known for calling pepe at 600k and making 8 figures).
In one month I turned about $3m into $100m and then lost it all in…— James Wynn (@JamesWynnReal) June 6, 2025
From Meme Coins to Millions, Then Mayhem
This lack of experience did not hinder him initially. Within a month, Wynn claimed he transformed a $3 million position into $100 million through a series of high-leverage trades.
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His achievements, all verifiable on-chain, quickly drew attention. His social media following surged as crypto traders rushed to emulate or observe his trades.
However, the increased visibility turned out to be a double-edged sword. Wynn acknowledged that the pressure of being in the limelight distorted his decision-making.
“With all this new attention the trading spiraled out of control. I was basically gambling,” he remarked. “I got greedy. I wasn’t taking the numbers on the screen seriously.”
Transparency Made Wynn a Star—Then a Cautionary Tale
By mid-May, Wynn had built a $1.25 billion long position on Bitcoin, making a significant bet at an average entry price of approximately $108,243.
This position, established with leverage as high as 40x, allowed little room for error. When US President Donald Trump tweeted a warning about tariffs on the European Union, global markets reacted sharply. Bitcoin fell below Wynn’s liquidation price, resulting in the near-total loss of his position through a series of cascading failures.
The swift reversal stunned many within the crypto community, where Wynn had become a polarizing figure. Some regarded him as a contemporary trading legend, while others criticized him for reckless gambling or even market manipulation.
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