James Wynn Bets Big on PEPE Hours Following a $100M Setback in a Leveraged Bitcoin Trade

Pseudonymous Trader ‘Wynn’ Bets Big on PEPE After Historic Bitcoin Wipeout

A mysterious onchain trader known only as “James Wynn” is once again making waves in the crypto markets—this time with a $12 million leveraged position on the memecoin PEPE, raising fresh questions about his identity and motives.

Blockchain data from Hyperdash shows that Wynn has opened a 10x leveraged long on PEPE, acquiring 934 million tokens at an average entry price of $0.0129. The position is already in the green, showing an unrealized gain of over 10%—a sharp reversal from his previous high-profile losses.

Earlier this week, Wynn became infamous after his massive $1.25 billion long bet on Bitcoin unraveled. His position, entered at an average price of $108,243, was severely impacted when Bitcoin dropped below $105,000. The decline followed market volatility sparked by U.S. President Donald Trump’s announcement of new tariffs on European Union exports.

The damage was substantial. Wynn experienced a series of liquidations totaling over $100 million, including one 527 BTC position worth $55 million and another 421 BTC trade worth nearly $44 million.

Now, his move into PEPE has renewed speculation. Some traders believe Wynn is a high-risk individual driven by compulsive behavior. Others suspect the account may be part of a broader marketing strategy to drive user growth and visibility for Hyperliquid, the onchain trading platform where all of Wynn’s trades have occurred.

Regardless of the trader’s true identity, the transactions are undeniably real. Wynn’s activity has stress-tested Hyperliquid’s infrastructure, showcasing the platform’s ability to manage massive, fully onchain leveraged positions without failure.

The publicity appears to be paying off. Hyperliquid’s governance token HYPE has climbed 20% over the past two weeks as traders flock to the platform in the wake of Wynn’s headline-making trades.

As Wynn continues to make high-stakes moves across volatile assets, one thing is clear: Hyperliquid has proven itself capable of executing at institutional scale—even when the trades seem anything but conventional.