Wynn’s Wild Week: After $100M Bitcoin Loss, Trader Bets $12M on PEPE

Is “James Wynn” a high-stakes degen or a viral marketing stunt for Hyperliquid? Crypto Twitter is torn.

The pseudonymous trader known as Wynn has once again captured the spotlight—this time with a $12 million leveraged long on the memecoin PEPE, mere hours after suffering a staggering nine-figure loss on Bitcoin.

According to onchain data from Hyperdash, Wynn opened a 10x long position on PEPE worth over $12 million. He now holds 934 million PEPE tokens, entered at $0.0129, and is currently sitting on a 10.66% unrealized gain—an early bounce back after a brutal week.

Just days ago, Wynn’s epic Bitcoin gamble ended in disaster. He had amassed a record $1.25 billion long position on BTC, with an average entry of $108,243. That bet unraveled swiftly as Bitcoin fell below $105,000 following U.S. President Donald Trump’s surprise tariff announcement on EU exports.

A cascade of liquidations followed, including a 527 BTC position worth over $55 million and another 421 BTC chunk valued at nearly $44 million. Altogether, Wynn’s Bitcoin losses topped $100 million.

Now, his pivot to PEPE has reignited debate: Is Wynn an actual trader with a dangerously high risk appetite—or a well-funded account designed to drive attention to Hyperliquid?

Whatever the case, the capital is real. Wynn’s trades have become a live stress test for Hyperliquid, which continues to facilitate billion-dollar positions entirely through smart contracts on its proprietary blockchain.

Amid the drama, Hyperliquid’s native token HYPE has surged 20% in the past two weeks, fueled by the buzz surrounding Wynn’s high-profile moves.