Popular cryptocurrency trader James Wynn, in a tweet on X, publicly slammed the crypto markets as corrupt. Wynn, known for his high-risk trades on the Hyperliquid decentralized exchange, Bitcoin, and popular memecoins like PEPE, made this move after suffering a significant loss on trades.
Wynn incurred a loss of about $110 million on a leveraged Bitcoin trade. In his tweet, Wynn vented his frustration with the markets.
One thing for sure is that I have exposed just how corrupt these markets are.
Guess it’s better to just buy and hold $BTC on spot / cold storage it.
— James Wynn 🐳 (@JamesWynnReal) May 30, 2025
James Wynn Loses About $110 Million in Crypto
On May 21, fueled by Bitcoin’s continued price surge, Wynn placed a massive bet, buying 7,764 BTC for $830 million. He later amplified his position by expanding his Bitcoin portfolio, ultimately accumulating a staggering 11,588 Bitcoins with a total investment of $1.25 billion.
Unfortunately, market volatility kicked in and his bullish gamble backfired as Bitcoin’s price plummeted. The sharp decline led to a series of liquidations, with Wynn’s positions worth millions of dollars being forcibly closed, including significant sales of BTC at various price points. Subsequently, he lost about $110 million.
James Wynn’s Reputation Takes a Hit
As Wynn laments his massive loss, it has done little to hide the fact that his reputation has taken a hit. In the crypto community, where Wynn’s influence and experience has drawn scrutiny, blockchain sleuth ZachXBT was among those who called him out.
Earlier this week, Wynn made a tweet warning his followers about a Cabal group scam coin launched in his name, with suspiciously high volume and low market cap, advising them not to buy. He went on to recommend $MOONPIG and $PEPE as the memecoins he supports.
ZachXBT commented under the post, accusing Wynn of previously scamming his followers with similar memecoin schemes. The blockchain detective further added a July 2024 report by a user named Dylan, comprehensively highlighting Wynn’s alleged role in the Babypepe token controversy.
Furthermore, under Wynn’s post about the crypto market being corrupt, different X users criticized and called him a fake. One of them accused him of manipulating the markets by using multiple accounts.
