Share this article
James Wynn, the Trader Who Bet $1B on Bitcoin, Is Now Long Pepe
The pseudonymous trader on Hyperliquid closed their billion-dollar notional position for a $17 million loss over the weekend and is now betting on downside.
Updated May 26, 2025, 8:59 p.m. Published May 26, 2025, 8:10 a.m.
Make us preferred on Google
What to know:
- A crypto wallet known for high-stakes trades has shifted focus to pepe (PEPE) with a $1 million bet at 10x leverage.
- Trader "James Wynn" closed a $1.2 billion Bitcoin position with a $17.5 million loss before opening a $1 billion short.
- Wynn announced stepping away from perpetual trading after securing a $25 million profit from an initial investment of over $3 million.
One of the most closely watched crypto wallets in recent weeks is now betting on pepe (PEPE), days after drumming up a record billion-dollar notional position on bitcoin on the onchain trading platform Hyperliquid.
The wallet has gone long on PEPE with $1 million at 10x leverage, flipping from billion-dollar bitcoin trades to high-stakes memecoin bets. The position is already up $500,000 as of European morning hours, with pepe up nearly 6% in the past few hours.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Pseudonymous trader “James Wynn” — known as “moonpig” on decentralized exchange Hyperliquid — closed their $1.2 billion BTC long position with a $17.5 million loss on Monday.
Wynn then opened a $1 billion short using 40x leverage, effectively wagering their entire $50 million wallet on the downside. Both positions are a record for an onchain platform and represent the biggest bets placed entirely on a blockchain-based service.
Wynn’s new short was opened at an average price of $107,077, and has already netted about $3 million in profit as BTC hovered just below that level Monday, before losing some value.
The trade is a high-risk musical chairs event: if BTC rises above $110,446, Wynn’s position could be liquidated unless additional collateral is posted, data shows.
That position is since closed and Wynn said on X stepping away from perpetual trading altogether. They have netted a total profit of $25 million from an initial above $3 million, the account said on X.
“Now decided to leave the casino with my $25,000,000 profit,” he posted. “It’s been fun, but now it’s time for me to walk away a wynner.”
To all the fans and haters:
— James Wynn 🐳 (@JamesWynnReal) May 26, 2025
We had a good run gambling on perps
At peak the account was up $87,000,000 profits from like $3-$4m.
Now decided to leave the casino with my $25,000,000 profit
It’s been fun, but now it’s time for me to walk away a wynner
Wynn 1-0 Haters… pic.twitter.com/vuUiET2CQZ
More For You
Más para ti
WLFI surges 10% after Apex stablecoin deal, outperforming BTC and ETH
The Trump-affiliated token rose on news that a $3.5 trillion asset servicer will pilot USD1, while BTC and ETH continue to trade near multi-week lows.
Lo que debes saber:
- WLFI, the token linked to Trump-affiliated World Liberty Financial, jumped about 10% after a $3.5 trillion asset servicer said it would pilot the firm's USD1 stablecoin as a settlement rail for tokenized funds.
- At a World Liberty Financial forum at Mar-a-Lago, Sen. Bernie Moreno and Coinbase CEO Brian Armstrong urged swift passage of a U.S. crypto market structure bill, arguing clear rules are essential for maintaining American leadership in financial innovation.
- World Liberty Financial co-founder Zak Folkman pitched USD1 as an institutional-grade stablecoin for real-world settlement, cross-border payments and future AI-driven commerce, with real-time on-chain proof of reserves and plans to expand beyond the U.S.-Mexico corridor to as many as 40 currencies.
Top Stories
