Crypto Trader James Wynn Loses $25M BTC Bet

James Wynn, known for high-stakes crypto trading, lost approximately 240 BTC, equivalent to $25 million, following a partial liquidation of his newest Bitcoin position on Wednesday. This loss is part of a second leveraged Bitcoin investment totaling nearly $100 million, which he undertook shortly after facing his largest loss. Wynn currently holds an $82 million long position in Bitcoin at 40x leverage, with an entry price of $106,066, as Bitcoin trades near $105,000. He has previously faced massive losses, notably with a $1.25 billion Bitcoin long position that was liquidated in May. Despite these setbacks, Wynn, called "moonpig," indicates plans to "run it back." His association with Hyperliquid, a decentralized futures platform, is unexplained, though speculation exists about market manipulation surrounding his trades.