James Wynn Switches from Crypto to S&P 500 Short...Again on the Brink of 'Bankruptcy'

▲ Cryptocurrency trading, short selling, liquidation/AI-generated image

After experiencing over 200 liquidations in high-leverage cryptocurrency trading, James Wynn shifted his focus to an S&P 500 short position but became a market target again, incurring a loss of $982,000 in just one day.

According to crypto media outlet BeInCrypto on July 1 (local time), Wynn was forcibly liquidated twice in S&P 500 perpetual futures short positions within the last 24 hours. The total loss amounted to $982,000, and his cumulative liquidation record surpassed 200.

On-chain analytics firm Arkham detected these losses on July 1. Arkham stated, “James Wynn was liquidated for $1 million in traditional finance. He appears to have moved away from crypto trading and is now shorting the S&P 500. He was liquidated twice in the last 24 hours, with total losses amounting to $982,000. If the S&P 500 rises by another 0.35% from here, he will be liquidated again.”

Wynn did not leave Hyperliquid but instead changed his trading focus on the same exchange from Bitcoin (BTC) and memecoin bets to high-leverage index-linked perpetual futures. In April, he proposed a defensive multi-asset strategy of shorting US stocks, but a few days later, his 40x short position was liquidated amid a Bitcoin rally, causing his account balance, which was once worth $100 million, to shrink to approximately $900.

Wynn's liquidation history grew rapidly. As of April, he had 194 liquidation records, with an additional 6 cases in the following two weeks, surpassing 200. Previously, during a continuous loss period recorded by Arkham, 9 liquidations occurred over two days, and his balance dwindled to $500. He gained fame in the past by turning $7,600 into $25 million through memecoin PEPE trading, but since then, he has recorded repeated liquidations in high-leverage perpetual futures trading.

BeInCrypto pointed out that Wynn's trading pattern has shifted from cryptocurrencies to traditional financial assets. In April, his account was wiped out with just a 2.5% move in Bitcoin, and with his current S&P 500 short position, the next liquidation will occur if the index rises by just an additional 0.35%. On Hyperliquid, Jeffrey Huang, also known as Machi Big Brother, has recorded 335 liquidations, and Andrew Tate has also returned to 40x Bitcoin betting after 107 liquidations.

[Article Summary]

-James Wynn lost a total of $982,000 after being forcibly liquidated twice in S&P 500 perpetual futures short positions within 24 hours.

-Arkham stated that if the S&P 500 rises by just another 0.35% from its current level, Wynn's remaining positions could be liquidated again.

-Wynn, who gained fame by turning $7,600 into $25 million through PEPE trading, has since accumulated over 200 liquidation records in high-leverage perpetual futures trading.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*