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 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 over the past 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 shorting the S&P 500. He was liquidated twice in the last 24 hours, with total losses of $982,000. If the S&P 500 rises another 0.35% from here, he will be liquidated again.”

Wynn did not leave Hyperliquid but instead switched his trading focus on the same exchange from Bitcoin (BTC) and memecoin bets to high-leverage perpetual futures linked to indices. In April, he proposed a defensive multi-asset strategy to short U.S. stocks, but a few days later, his 40x short position was liquidated amid a Bitcoin rally, shrinking his account balance, once valued at $100 million, to approximately $900.

Wynn's liquidation history rapidly grew. As of April, he had 194 liquidation records, with 6 more added in the following two weeks, surpassing 200. In a previous continuous loss period recorded by Arkham, 9 liquidations occurred over two days, reducing his balance to $500. He previously gained fame by turning $7,600 into $25 million trading the memecoin Pepe (PEPE), 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 would be wiped out with just a 2.5% movement in Bitcoin, and his current S&P 500 short position is structured such that another 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 also returned to a 40x Bitcoin bet after 107 liquidations.

[Article Key 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 0.35% from its current level, Wynn's remaining positions could be liquidated again.

-Wynn gained fame by turning $7,600 into $25 million trading Pepe, but 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 any investment losses based on it. The content should be interpreted for informational purposes only.*