TLDR
- Crypto trader James Wynn lost $25 million when his leveraged Bitcoin position was liquidated at $104,720
- Wynn claims market makers are manipulating Bitcoin prices to prevent upward movement
- He still holds 770 Bitcoin worth $80.5 million with a liquidation price of $104,035
- At least 24 supporters have sent stablecoins to his wallet to back his trading strategy
- This follows previous losses of $100 million in late May during Bitcoin’s price decline
Leveraged crypto trader James Wynn suffered a $25 million loss when his Bitcoin position was liquidated on Hyperliquid. The liquidation occurred when Bitcoin dropped to $104,720, forcing the closure of his 240.3 BTC long position.
James Wynn(@JamesWynnReal) just got liquidated for 240 $BTC($25.16M).
He also manually closed part of his position to lower the liquidation price.
He still holds 770 $BTC($80.5M), with a liquidation price of $104,035.https://t.co/FX6sISWuDP pic.twitter.com/ZrroIyP9LZ
— Lookonchain (@lookonchain) June 4, 2025
Wynn had been trading with 40x leverage on his Bitcoin position. He manually closed part of his position earlier to lower his liquidation price before the final liquidation hit.
The trader still maintains a position of 770 Bitcoin worth approximately $80.5 million. His remaining position faces liquidation if Bitcoin falls to $104,035.
Data from Hypurrscan shows Wynn currently sits on an unrealized loss of nearly $1 million. His trading activity occurs on Hyperliquid, where position information is publicly visible.
This latest loss comes after Wynn suffered $100 million in losses during late May. The previous losses occurred when Bitcoin fell below $105,000 on May 30.
Market Manipulation Claims
Following his liquidation, Wynn posted on X alleging market manipulation. He wrote that market makers are not “letting the market run freely” and challenged others to prove him wrong.
MARKET MANIPULATION.
— James Wynn (@JamesWynnReal) June 4, 2025
Wynn has requested donations from the crypto community to support his cause. He promises to reimburse supporters if his trading strategy succeeds.
The timing of his liquidation coincided with increased volatility ahead of U.S. jobless claims data. Market sentiment has remained cautious with support levels near $103,000.
At least 24 blockchain users have sent stablecoins to Wynn’s wallet following his public appeal. One address alone contributed nearly $8,000 to support his trading activities.
The pseudonymous investigator ‘dethective’ confirmed the donation transfers through on-chain data analysis. These contributions appear to back Wynn’s stance against what he calls the “market-making cabal.”
Trading History and Platform Response
Wynn rose to prominence through large, high-leverage Bitcoin bets on Hyperliquid. He initiated a $1.25 billion leveraged position on May 24 after suffering a $29 million loss the day before.
A day after opening the massive position, Wynn closed his long and opened a $110 million short position instead. His trading patterns have drawn attention from analytics platforms like Lookonchain and Arkham Intelligence.
Wynn claims some of his crypto exchange accounts were shut down without notice. This claim remains unverified but raises questions about exchange transparency during high-stress trading periods.
Following Wynn’s losses, Binance co-founder Changpeng Zhao proposed creating dark pool perpetual swap exchanges. Zhao suggested this could combat market manipulation by hiding order information from public view.
Dark pools exist in traditional finance to provide liquidity and anonymity to institutional investors. However, they can create conflicts of interest due to their lack of transparency.
Wynn’s situation reflects broader risks in leveraged trading environments. His story follows other traders who lost large amounts using aggressive leverage strategies.
The crypto community remains divided on Wynn’s claims, with some viewing his stance as defiant while others see it as cautionary. Wynn continues to hold his remaining Bitcoin position despite the recent liquidation.
