$60 Million Loss Marks Dramatic Downturn for Trader James Wynn
Trader James Wynn, known as “moonpig,” faced a $60 million loss in May 2025, showcasing the risks of high-leverage trading.
The Ascent
- Wynn started trading in 2022 with support from Alameda Research.
- He turned a $7,000 investment in PEPE into $25 million using high-frequency strategies.
- By March 2025, he had deposited $4.65 million in USDC on Hyperliquid and earned $46.5 million by May 10.
The Descent
- On May 19, he opened a 40x leveraged position on 5,520 BTC at $103,302, later expanding to 9,371.71 BTC worth over $1 billion.
- After a price drop triggered by an announcement from former President Trump, he made costly trades, resulting in a $13.39 million loss.
- Wynn shifted to shorting Bitcoin, ultimately incurring approximately $15.87 million in losses after closing positions on May 26.
The Aftermath
- Wynn reported a profit of $25 million from an initial base of $3–4 million, down from a peak of $87 million.
- He announced his exit from perpetual trading, stating it was time to step away while still profitable.
Lessons in Leverage
Wynn’s experience underscores the dangers of high-leverage trading without proper risk management. As of May 28, 2025, Bitcoin is trading around $108,805, reflecting ongoing market volatility.