The trader James Wynn, known as moonpig, closed his 1.2 billion dollar long position on Bitcoin with a loss of 17.5 million before opening a 40x leveraged short position betting his entire portfolio.
From Bullish Excess to Bearish Retreat
The saga began with a 1.2 billion dollar long on Bitcoin, which he closed over the weekend with a 17.5 million dollar loss. Wynn quickly turned the tables, following up with a 1 billion dollar 40x leveraged short, putting his entire 50 million portfolio on a BTC drop from 107,077 dollars.
At this level of exposure, any slight variation becomes critical: a rise in BTC above 110,446 dollars would have been enough to liquidate his position. Wynn managed to exit with around 3 million in profit before closing the trade… and announcing his market withdrawal.
“Leaving the Casino with 25 Million”
After weeks of pure adrenaline on Hyperliquid, Wynn bids farewell. “To all the fans and haters: we played well. At our peak, we were up to 87 million in profits… I’m leaving the casino with 25 million,” he posted. Starting with an initial capital of 3 to 4 million dollars, he now claims to be retiring from perpetual trading after breaking the onchain ceilings.
A New Bet on PEPE: the Return of High-Risk Memecoins
But retirement only lasted a few hours. Monday morning, Wynn reemerges on the radar with a long trade on PEPE, now at 20 million dollars with a 10x leverage. The position quickly showed a profit of 500,000 dollars before turning negative, as the memecoin’s price dropped by nearly 6% in early European trading.
Simultaneously, Wynn opened a new long position on Bitcoin, reaching nearly 700 BTC, or 75 million dollars, also experiencing a slight loss.
