Crypto Trader James Wynn Loses $99M in Bitcoin Bets, This Counter Trader Wins
The post Crypto Trader James Wynn Loses $99M in Bitcoin Bets, This Counter Trader Wins appeared on BitcoinEthereumNews.com. Crypto trader James Wynn, who’s been in the news for his high-leverage bets, has lost an incredible $99 million in the past two days with his Bitcoin bets falling flat on his face. Crypto trader Wynn gained popularity in the crypto circle while taking his profits from just $500K capital to a huge $87 million in just two months, through his high-leverage bets on PEPE, TRUMP, and FARTCOIN.
How Did James Wynn Lose $99 Million in Bitcoin Bets?
James Wynn acquired fame in the crypto circle by turning his profits from $500K to $87 million in just two months. However, his luck took a turn for the worse as his high-leverage bets on BTC led to a massive loss of $99 million in a week’s time.
Timeline of Wynn’s Crypto Trades:
- 10x long on $PEPE, collecting $23.8 million in unrealized profit.
- 10x long on $TRUMP, yielding $6.83 million in realized gains.
- 5x long on FARTCOIN, netting $4.48 million in realized profit.
On May 22, Wynn’s $1.14 billion Bitcoin position was up $39 million, showcasing his initial success. However, subsequent trades resulted in significant losses.
Crypto Trader Mints $17 Million Betting Against Wynn
Just 17 hours before the current time, James Wynn made a statement predicting a forceful comeback. By strategically betting against Wynn’s positions, trader 0x2258 managed to secure an impressive $17 million in profits.
