High-leverage, high-risk crypto trader James Wynn , who first rose to fame in 2023 by trading memecoin Pepe (PEPE) , has taken a sharp turn.

On Sept.8, the trader called out meme coins "in essence dead."

Starting with nearly $7,000 in PEPE, Wynn turned his stack into roughly $25 million at its peak. He had publicly predicted the token’s market cap would reach $4.2 billion when it was valued at just $4.2 million, a call few believed

When PEPE later surged, Wynn’s wallet ballooned into eight figures, allegedly locking in between $20–25 million. The win earned him a reputation as a fearless, risk-savvy trader on crypto X (formerly Twitter).Then, when PEPE's market cap pushed upwards, Wynn's wallet reached 8 figures, as he allegedly realized profitability between $20-25 million.

James Wynn's high leverage moves

Wynn built on his PEPE fortune with aggressive leveraged trades on Hyperliquid and other venues. By mid-2025, he had allegedly amassed around $80 to 87 million. His use of 20x–40x leverage — and public screenshots flaunting his wins — made him a crypto celebrity.

James Wynn's 40× Bitcoin long bet crashes

In May 2025, Wynn opened a 40x Bitcoin (BTC) long worth roughly $1.25 billion, with an entry price of about $107,993. His paper profits briefly touched $100 million.

But by May 29, liquidations began as BTC slipped to $106,330, wiping $10 million. The following day, as markets reacted to Donald Trump’s “liberation day” tariffs, BTC slid further. Wynn lost $55 million at $104,950 and another $44 million at $104,150.

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Within days, nearly $100 million vanished — one of the largest on-chain trading losses ever recorded.

In total, Wynn had nearly $100 million wiped off his account, culminating in his complete collapse of his entire fortune over the course of just one week. His unrealized $100M gain was now erased, making it one of the largest on-chain trading losses ever recorded.

Ironically, on X just hours before his untimely collapse, Wynn posted:

“I do not follow proper risk management, nor do I claim to be a professional; if anything, I claim to be lucky. I'm effectively gambling. And I stand to lose everything. I strongly advise people against what I'm doing!"

After his collapse, Wynn even posted that he was quitting his trading "casino" after a "good gamble." But it was short-lived, as his appetite for high-risk trading was still quite strong.