Crypto Trader James Wynn Loses 20.5 Million After Bitcoin Drop

Coin WorldThursday, Jun 5, 2025 8:03 pm ET
1min read

James Wynn, a prominent figure in the cryptocurrency world, has experienced a significant financial setback. Early this morning, the price of Bitcoin (BTC) dropped, leading to Wynn being liquidated for 379 BTC at 1 a.m. He subsequently chose to close the remaining position voluntarily.

This latest move has resulted in Wynn losing an additional $2.9 million. Initially, he had used $3.6 million in USDC as collateral. Following the full liquidation, he was left with $700,000. This amount includes the $225,000 he received from two begging tweets, highlighting the severity of his financial situation.

Wynn's financial journey over the past two weeks has been tumultuous. He shifted from a substantial profit of $87 million to a current loss of $20.5 million. This dramatic turn of events underscores the volatility and risks associated with cryptocurrency trading, even for experienced traders like Wynn.

Wynn's decision to go long on BTC again, despite the inherent risks, has proven costly. His previous profit of $87 million has now been overshadowed by a loss of $20.5 million, demonstrating the unpredictable nature of the cryptocurrency market. This event serves as a cautionary tale for traders, emphasizing the importance of risk management and the potential for significant losses in a short period.