James Wynn returned to the crypto industry today after several months of hiatus. He reactivated his Hyperliquid account this week, deposited 197,000 USDC, and immediately opened $4.8 million worth of long positions across Bitcoin, PEPE, and HYPE.
According to on-chain data, Wynn distributed approximately $3.85 million to Bitcoin with 40x leverage, $917,000 to PEPE with 10x leverage, and $28,000 to HYPE with 10x leverage. Lookonchain analysis shows that his current holdings are 34.2 BTC, 122.8 million PEPE, and 712.67 HYPE.
Wynn’s re-entry sparks debate over risky trading behavior
James Wynn returned after claiming a $2,818 referral fee before making his latest trade. His return coincided with the ongoing liquidation trend at HyperLiquid. The liquidation was primarily triggered by Bitcoin’s recent drop below $115,000.
James Wynn (@JamesWynnReal) is back at Hyperliquid!
He deposited 197,000 $USDC and claimed a referral reward of $2,818.He then opened long positions in $BTC(40x), $PEPE(10x), and $HYPE (10x) for a total of $4.8 million.
34.2 $BTC($3.85M)
$122.8 million ($917,000)
712.67 $HYPE($28K)… pic.twitter.com/ujemPmQWgb— Lookonchain (@lookonchain) October 15, 2025
The crypto trader emerged just four months after many were believed to have exited the market for good. Cryptopolitan reported In July, it was revealed that the trader had deactivated his X account after losing a nine-figure sum on leveraged Bitcoin futures. According to the report, funds were missing from his wallet, leaving him with a balance of nearly $10,157.
arkham intelligence data The balance now stands at just $2,162.52, marking one of the most public trading meltdowns. Before his disappearance, Wynn changed his bio to just one word: “Broken.”
Wynn’s losses were caused by two big moves, including a $100 million long Bitcoin position established in May and June. The initial position was liquidated when Bitcoin fell below $105,000, and a few days later he doubled down with an additional $100 million with 40x leverage, only to be liquidated again as the market corrected. He lost approximately 949 BTC on those positions.
Despite announcing he was stepping away from the permanent collection, Wynn’s on-and-off behavior lasted only a short time. According to report From June 19, 2025, he re-entered the market with an additional $100 million long BTC position. This relapse was dubbed a “win is a win” by industry traders and helped drive HyperLiquid’s trading volume and user activity.
Some analysts refer to this trend as the “James Wynn effect.” His activities have contributed to the influence around Hyperliquid, which now totals $4.93 billion, according to DefiLlama. datatrading volume has soared to more than $80 billion weekly.
Wynn’s risk appetite returns $4.8 million in new positions.
Wynn is known for being provocative. Post X and for making his trade look like a market-defining moment. For example, in May, when he lost more than $100 million, hyperliquid market activity and online searches increased. The trend of his posts and trading activity regarding X started to look as if he was an ambassador for the Hyperliquid ecosystem.
“Money doesn’t make you rich. Peace, happiness, family, love, loyalty, health, nature, sun, and dogs will enrich you. And I have them all glued to TI and have more passive income coming in every month than most people make in a year.”
-JAmes Wina high-leverage cryptocurrency trader
Cryptopolitan reported that in mid-July after his alleged fall from grace, he claimed approximately 6,792 USDC as a referral bonus and placed a 10x long position with leverage on PEPE. This was one of the latest hints that his return may only be temporary, but his return just three months later for $4.8 million in a new position shows his risk appetite is still there.
Wynn’s trading style has won him both loyal supporters and vocal critics. His transparency in admitting gambling rather than disciplined trading has made him an anti-hero in the crypto community.
