This crypto trader just lost $100M, but he’s still not done

James Wynn’s $100-million Bitcoin liquidation shocked the crypto world. The way he used leverage is astounding, though his later losses also exposed associated market risks.

In the volatile arena of cryptocurrency trading, the saga of James Wynn, a trader on the decentralized exchange (DEX) Hyperliquid, illustrates both the excitement and risks associated with it. 

In late May 2025, Wynn suffered nearly $100 million in liquidations after Bitcoin (BTC) dropped below $105,000. His bold leveraged bets collapsed swiftly, erasing a vast fortune. Bitcoin’s extreme volatility, oscillating between soaring peaks and steep declines, underscores the promise and risk of high leverage. 

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