James Wynn, famous for a $1 billion Bitcoin bet, is currently betting long on Pepe.

James Wynn, the pseudonymous trader making waves on the Hyperliquid platform, has officially closed his massive $1.2 billion Bitcoin long position over the weekend—taking a $17.5 million hit—and immediately pivoted to a new high-risk play: a $1 million long bet on the memecoin PEPE with 10x leverage.

Known as “moonpig” on Hyperliquid, Wynn made headlines recently by holding the largest-ever onchain Bitcoin position. After closing that trade, Wynn opened a $1 billion short on BTC at 40x leverage, essentially wagering the entirety of his $50 million wallet on Bitcoin’s downside. That position brought in about $3 million in profit as Bitcoin hovered just under $107,000.

But the game didn’t stop there. With liquidation risk looming if Bitcoin surged past $110,446, Wynn closed the short position and announced on X that he was stepping away from perpetual trading, walking away with $25 million in total profits—an impressive jump from his initial $3 million stake.

“Decided to leave the casino with my $25,000,000 profit,” Wynn posted. “It’s been fun, but now it’s time to walk away a wynner.”

Not one to stay idle, Wynn quickly shifted gears and placed a $1 million, 10x leveraged long on PEPE. The memecoin quickly rallied nearly 6%, already turning a $500,000 gain for the trader by European morning.

Wynn’s moves showcase the rapid shifts and high-stakes bets happening in crypto markets today—where billion-dollar plays on blue-chip assets can swiftly turn into leveraged bets on meme coins, all on transparent, blockchain-based platforms.