On the morning of May 30th, when Bitcoin fell below 10.5 million USD, the position of contract whale James Wynn was liquidated, totaling 949 Bitcoins (approximately 99.3 million USD).
Recently, Bitcoin has fluctuated at a high level, James Wynn is like a monkey performing acrobatics on a tightrope, opening orders in large positions many times, jumping repeatedly between long and short, and on May 29, when all the profits on his Hyperliquid will be vomited, he also said on X, "Is $80 million a fortune?" These days, $80 million can't buy a superyacht. When billions of dollars are traded with 40x leverage, this money is considered a normal fluctuation. You go your way, I'll go mine. "The profit it takes back is all its earnings in the last 70 days.
As of 4 PM on the 30th, he has already lost over 10 million dollars, going from profit to loss in just 6 days.
Crazy leverage, gains and losses in an instant
James Wynn's X introduction is — a world-renowned old gambler, I love leverage, love Meme, but what I love most is winning.
However, this money does not always win. The market seems to be "targeting" James Wynn, who still has not left the betting table after being liquidated on the morning of May 30. As of 3 PM on the 30th, he had opened a 40X long position on Bitcoin at $107993.1, which has now lost nearly 5 million dollars. Ultimately, he had to cut losses and close the long position.
Since May 24, his luck seems to have been "not so good", entering a continuous loss mode. On that day, he went long on Bitcoin, ultimately losing nearly 14 million dollars.
Since that day, James Wynn has fallen into a pattern of frequently opening positions to "prove" himself, with his positions reaching as high as 1 billion USD. The market always seems to go against him, for instance, when he goes long, there always seems to be some news that causes the market to fall, forcing him to reduce his position or close it to stop losses.
The rumors that the Tech and Media Group of Tecon is raising funds to buy Bitcoin, and then saying it is a rumor, caught James Wynn off guard with a long position he opened.
But is the market really going against James Wynn? One fact is that such a high-profile large position is very easy to be targeted for a strike, and he himself stated after closing his Bitcoin long position on the 30th, "It's time for BTC to take off. Thanks for the low price I provided."
However, James Wynn's trading seems to no longer be for the purpose of making money, but rather to prove himself, or perhaps it has become a performance, after all, in his view, 80 million dollars still cannot buy a yacht.
The Fall of the Grassroots Contract God
James Wynn's self-portrait carries a strong "grassroots counterattack" color. In his narrative, he mentions that he was born in a forgotten corner of England—a dilapidated town intertwined with crime, drugs, and poverty. In 2022, he stepped into the crypto world, and his life began to take a turn. After encountering the PEPE coin, he made his first significant amount of money. In 2023, when most people had yet to hear the name PEPE, Wynn put nearly all his fortune—$7600—into this Meme coin. It was this heavy investment that changed his fate.
The market capitalization of PEPE is like a rocket, soaring all the way, hitting a peak of $10 billion in October 2024. It is estimated that he could end up making more than $50 million in PEPE. Back in April 2023, when the market capitalization of PEPE was only $4.2 million, James Wynn boldly predicted that it would reach $4.2 billion.
The huge success on PEPE has transformed him into the MEME God, granting him influence in the MEME community. Thereafter, he leveraged his social media influence to boldly promote emerging tokens such as BIAO, ANDY, and WOLF. What followed was a Waterloo of his reputation—the ELON token incident.
According to social media revelations and media reports, in April 2024, he used multiple anonymous wallets to quietly open a position in ELON tokens in advance, and then promoted it on social media in a high-profile manner, attracting a large number of retail investors to follow the trend and push up the price. Just when the market sentiment was high, Wynn suddenly claimed that there was a problem with the token and quickly liquidated it, causing the ELON price to plummet by 70% in a short period of time. This operation made him a huge profit, but it also made countless followers lose their money, and he also turned from a meme coin promoter to a professional trader after that.
**In March 2025, Wynn entered the Hyperliquid contract trading battlefield, bringing in about 6 million dollars in capital, continuing its consistent high-risk style, favoring leverage of up to 40 times, and focusing on Bitcoin as well as a few highly volatile meme coin contracts like PEPE, TRUMP, and FARTCOIN. In just two months, he made over 80 million dollars, but within less than a week, he lost it all and fell into a deficit.
Whether it's Liangxi or James Wynn, bankruptcy is the final outcome
The myth of Liangxi's "100x leverage turning a thousand into tens of millions" and James Wynn's "40x leverage earning 80 million USD in two months" is just the first half of the story.
The latter part of the story is similar; Liang Xi managed to turn things around in this market by trading contracts and paid off previous debts, but now, he owes a huge sum of 30 million dollars again. James Wynn also, within just a week, not only gave back the previous profits but ultimately incurred losses.
The Kelly formula is a mathematical formula used to determine the optimal bet size in gambling or investment. It indicates that when the probability of winning a single bet is less than 50%, using leverage increases risk and may accelerate bankruptcy in certain circumstances.
According to the order statistics of James Wynn in the two months before the 25th, his win rate was 45%. It is precisely such a value below 50% that did not raise James Wynn's alert; instead of taking profits, he operated more frequently, subsequently reducing or increasing positions multiple times, and tried various contracts of tokens other than Bitcoin, such as SUI, ETH, etc.
Even on the 26th, he tweeted that he wanted to quit, planning to leave the scene with a profit of 25 million USD, but just two hours later, he returned to the contract battlefield.
The dopamine rewards from gambling are too rich, and the aversion to loss is even more fascinating than this reward. It is this constant aversion that brings James Wynn back to the battlefield again and again after each loss.
However, the market rewards are always given to risk controllers, not risk takers. The primary principle for real traders is to control risk, while only gamblers pursue hundredfold returns under high risk and high leverage.
Traders will strictly execute their trading plan to sell when their profits reach their expectations, while gamblers will threaten to stop after a loss and then return to the gambling table.
On the afternoon of the 30th, after closing its long position in Bitcoin, it opened a 10X long position in PEPE token.
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Contract Whale James Wynn finally got liquidated, and after losing everything, even the gambler won't leave the table.
On the morning of May 30th, when Bitcoin fell below 10.5 million USD, the position of contract whale James Wynn was liquidated, totaling 949 Bitcoins (approximately 99.3 million USD).
Recently, Bitcoin has fluctuated at a high level, James Wynn is like a monkey performing acrobatics on a tightrope, opening orders in large positions many times, jumping repeatedly between long and short, and on May 29, when all the profits on his Hyperliquid will be vomited, he also said on X, "Is $80 million a fortune?" These days, $80 million can't buy a superyacht. When billions of dollars are traded with 40x leverage, this money is considered a normal fluctuation. You go your way, I'll go mine. "The profit it takes back is all its earnings in the last 70 days.
As of 4 PM on the 30th, he has already lost over 10 million dollars, going from profit to loss in just 6 days.
Crazy leverage, gains and losses in an instant
James Wynn's X introduction is — a world-renowned old gambler, I love leverage, love Meme, but what I love most is winning.
However, this money does not always win. The market seems to be "targeting" James Wynn, who still has not left the betting table after being liquidated on the morning of May 30. As of 3 PM on the 30th, he had opened a 40X long position on Bitcoin at $107993.1, which has now lost nearly 5 million dollars. Ultimately, he had to cut losses and close the long position.
Since May 24, his luck seems to have been "not so good", entering a continuous loss mode. On that day, he went long on Bitcoin, ultimately losing nearly 14 million dollars.
Since that day, James Wynn has fallen into a pattern of frequently opening positions to "prove" himself, with his positions reaching as high as 1 billion USD. The market always seems to go against him, for instance, when he goes long, there always seems to be some news that causes the market to fall, forcing him to reduce his position or close it to stop losses.
The rumors that the Tech and Media Group of Tecon is raising funds to buy Bitcoin, and then saying it is a rumor, caught James Wynn off guard with a long position he opened.
But is the market really going against James Wynn? One fact is that such a high-profile large position is very easy to be targeted for a strike, and he himself stated after closing his Bitcoin long position on the 30th, "It's time for BTC to take off. Thanks for the low price I provided."
However, James Wynn's trading seems to no longer be for the purpose of making money, but rather to prove himself, or perhaps it has become a performance, after all, in his view, 80 million dollars still cannot buy a yacht.
The Fall of the Grassroots Contract God
James Wynn's self-portrait carries a strong "grassroots counterattack" color. In his narrative, he mentions that he was born in a forgotten corner of England—a dilapidated town intertwined with crime, drugs, and poverty. In 2022, he stepped into the crypto world, and his life began to take a turn. After encountering the PEPE coin, he made his first significant amount of money. In 2023, when most people had yet to hear the name PEPE, Wynn put nearly all his fortune—$7600—into this Meme coin. It was this heavy investment that changed his fate.
The market capitalization of PEPE is like a rocket, soaring all the way, hitting a peak of $10 billion in October 2024. It is estimated that he could end up making more than $50 million in PEPE. Back in April 2023, when the market capitalization of PEPE was only $4.2 million, James Wynn boldly predicted that it would reach $4.2 billion.
The huge success on PEPE has transformed him into the MEME God, granting him influence in the MEME community. Thereafter, he leveraged his social media influence to boldly promote emerging tokens such as BIAO, ANDY, and WOLF. What followed was a Waterloo of his reputation—the ELON token incident.
According to social media revelations and media reports, in April 2024, he used multiple anonymous wallets to quietly open a position in ELON tokens in advance, and then promoted it on social media in a high-profile manner, attracting a large number of retail investors to follow the trend and push up the price. Just when the market sentiment was high, Wynn suddenly claimed that there was a problem with the token and quickly liquidated it, causing the ELON price to plummet by 70% in a short period of time. This operation made him a huge profit, but it also made countless followers lose their money, and he also turned from a meme coin promoter to a professional trader after that.
**In March 2025, Wynn entered the Hyperliquid contract trading battlefield, bringing in about 6 million dollars in capital, continuing its consistent high-risk style, favoring leverage of up to 40 times, and focusing on Bitcoin as well as a few highly volatile meme coin contracts like PEPE, TRUMP, and FARTCOIN. In just two months, he made over 80 million dollars, but within less than a week, he lost it all and fell into a deficit.
Whether it's Liangxi or James Wynn, bankruptcy is the final outcome
The myth of Liangxi's "100x leverage turning a thousand into tens of millions" and James Wynn's "40x leverage earning 80 million USD in two months" is just the first half of the story.
The latter part of the story is similar; Liang Xi managed to turn things around in this market by trading contracts and paid off previous debts, but now, he owes a huge sum of 30 million dollars again. James Wynn also, within just a week, not only gave back the previous profits but ultimately incurred losses.
The Kelly formula is a mathematical formula used to determine the optimal bet size in gambling or investment. It indicates that when the probability of winning a single bet is less than 50%, using leverage increases risk and may accelerate bankruptcy in certain circumstances.
According to the order statistics of James Wynn in the two months before the 25th, his win rate was 45%. It is precisely such a value below 50% that did not raise James Wynn's alert; instead of taking profits, he operated more frequently, subsequently reducing or increasing positions multiple times, and tried various contracts of tokens other than Bitcoin, such as SUI, ETH, etc.
Even on the 26th, he tweeted that he wanted to quit, planning to leave the scene with a profit of 25 million USD, but just two hours later, he returned to the contract battlefield.
The dopamine rewards from gambling are too rich, and the aversion to loss is even more fascinating than this reward. It is this constant aversion that brings James Wynn back to the battlefield again and again after each loss.
However, the market rewards are always given to risk controllers, not risk takers. The primary principle for real traders is to control risk, while only gamblers pursue hundredfold returns under high risk and high leverage.
Traders will strictly execute their trading plan to sell when their profits reach their expectations, while gamblers will threaten to stop after a loss and then return to the gambling table.
On the afternoon of the 30th, after closing its long position in Bitcoin, it opened a 10X long position in PEPE token.