Legendary trader James Wynn makes a high-profile return after his "bankruptcy": 40x leverage to go long Bitcoin!

The crypto trader James Wynn, known for his aggressive high-leverage bets, made a high-profile return this week with new capital after disappearing from the market for several months. Data from Lookonchain shows that Wynn injected 197,000 USDC into his Hyperliquid account between October 14 and 15, and immediately opened a total of $4.8 million in leveraged long positions, including a $3.85 million bet on Bitcoin with 40x leverage. His return comes amid increased market fluctuations and a wave of liquidations, further solidifying his legendary status as a "performer" in the market, but it also comes with a painful history of nine-figure losses.

The Return of High Rollers: 40x Leverage on Bitcoin

James Wynn's comeback comes at a time when the recent drop in Bitcoin prices has led to a wave of liquidations on platforms like Hyperliquid, making his timing and high-leverage strategy noteworthy.

· Capital injection and new position details

Wynn deposited 197,000 USDC from October 14 to 15 and received a referral reward of 2,818 USD.

He opened a leveraged long positions worth 480 million USD, distributed across three assets:

Bitcoin: 3.85 million USD, using 40x leverage.

PEPE：****$917,000，using 10x leverage.

HYPE: 28,000 USD, using 10x leverage.

His current holdings are 34.2 BTC, 122.8 million kPEPE, and 712.67 HYPE.

· Trading style and "market performer"

Wynn's trading style is consistently dramatic. He often describes his trades as "viral takeovers," positioning his comeback moments as market-defining moments that coincide with market bottoms or significant rebounds.

· From $7,000 to $25 million "legend"

Wynn first gained attention because he turned a $7,000 PEPE position into $25 million, and this meteoric rise set the tone for his high-risk persona.

Painful History: Nine-Digit Losses and Temporary "Bankruptcy"

Wynn's trading history is full of drama, with its high leverage operations leading to significant financial losses.

· "Exit" after huge losses

Earlier this year, Wynn announced its exit from perpetual contract trading after turning $4 million into $100 million, followed by total losses and falling into a $17.5 million deficit, and it has deactivated its account.

· A brief disappearance and the last struggle of failure

Less than 24 hours after what he called his exit, on-chain records show that Wynn immediately opened a new Bitcoin long positions of 100 million dollars at 105,890 dollars with 40 times leverage.

• In May, as Bitcoin fell below 105000 USD, the position was liquidated, 949 BTC was wiped out.
• Subsequently, Wynn liquidated approximately 25 million USD worth of 240 BTC, trying to reduce liquidation risk, but the effort failed.
• In July, after suffering a nine-figure loss, he suspended his X account and changed his personal profile to one word: "broke".

Market Discrepancies: Risks, Speculation, and Platform Traffic

Although Wynn's history warns of the dangers of high-leverage trading, his return still attracts the attention of the market.

· Warning of "gambling rather than discipline"

Wynn admitted in June that his trading had turned into "gambling rather than discipline" and warned others not to follow suit.

· High risk still attracts traffic

Nevertheless, his high-risk returns (no matter how brief) often bring new traders to platforms like Hyperliquid and temporarily boost the price of its native token HYPE.

· The market's evaluation of Wynn

The views of the encryption community on Wynn's return are mixed:

• Some people think this is just the familiar "leverage and liquidation" cycle, once again a performance full of Fluctuation.
• Others believe that his resilience keeps him relevant in a market themed around risk and redemption.

Conclusion

James Wynn's comeback, with his dramatic bet on Bitcoin using up to 40x leverage, once again adds a touch of high-risk speculation to the crypto derivatives market. His actions reflect not only a personal belief in the market rebound but also symbolize the continued allure of the "high risk, high reward" narrative for some traders in a volatile market. However, the painful lesson of his previous nine-figure losses serves as a heavy warning to all traders attempting to chase quick wealth with ultra-high leverage.

This article is for news information only and does not constitute any investment advice. The encryption market is highly volatile, and investors should make cautious decisions.