Original author: Bright, Foresight News

"I started trading contracts in March, and before that, I had never traded contracts; in fact, I had never really traded (any derivatives) at all, I was just trading memes."

"In a month, I turned about 3 million dollars into 100 million dollars, and then lost it all on HyperLiquid in just one week."

"I was just doing my own thing, but people started to notice me, and my account exploded with hundreds of thousands of followers because all of this was traceable on-chain."

"In short, with all this new attention, trading got out of control. I was basically gambling, just trying to recover the lost profits while not wanting to look like an idiot for making 100 million dollars and then losing it. I became greedy. I didn't take the numbers on the screen seriously."

On June 6, James Wynn changed his profile picture to a McDonald's version of Wojak. Translated into popular Chinese, it means, "I lost, I joined the Meituan army again." By this point, James Wynn had already lost over 20 million dollars in principal.

Position and Tweet Timeline Overview

Super "Gambler" James Wynn comments on every contract he trades, so every open and close, profit and loss from his publicly available address on HLP reflects the journey of James Wynn, the current "number one gambler in the market."

On May 30, after suffering massive losses, James Wynn fell into "sage mode."

After losing over 96 million dollars in a week and an overall account loss of 14.03 million dollars, he posted on social media: "Being a contract gambler is very interesting, and I have no regrets. Turning 4 million dollars into 100 million dollars and then back down to 13 million dollars is incredibly thrilling. Most people wouldn't dare or can't make such trades. They can't do it, don't have the money to do it, and lack the courage to publicly take on such risks. Maybe next time I'll try to make a billion dollars; I'll be back."

In response, crypto KOL scooter, who previously exposed the LIBRA token scandal, directly mocked him: "James Wynn is a typical example, explaining why most scammers and ruggers eventually lose everything. They have never experienced the value of earning honestly and have never truly understood the effort required to make money. Easy come, easy go." Well-known trader Eugene Ng Ah Sio also expressed a similar view on his personal TG channel, "When you use excessive leverage, easy come easy go."

On May 31, James Wynn aggregated 3.25 million dollars through multiple addresses and went long on BTC and PEPE. After multiple liquidations and stop losses, his actual position value (not nominal position value) was only 800,000 dollars. In response, James Wynn stated on social media, "I will come back; I love this game. Money is essentially a mindset. I am still richer than 99.9% of crypto Twitter users. I made a huge and well-thought-out bet with the goal of making billions of dollars. My passive income is more than most of you earn in a year."

On the same day, James Wynn also posted, "100 million dollars is not a lot of money. Maybe it is for those whose minds are shackled. But for a free spirit, anything is possible; this amount is trivial. It's just 100 million dollars, a drop in the ocean in the world of money. The ridiculous thing is how many people go their whole lives without even seeing or hearing this number. Free will is more important than a poverty mindset."

On June 1, James Wynn posted again, stating he would come back, passionately declaring, "Some of you act like gods, thinking you will cash out at 100 million. Have you ever thought that I never intended to cash out at 100 million? Why cash out? For me, it's either all win or nothing." Currently, James Wynn holds no positions, with total losses reaching 17.72 million dollars.

Subsequently, James Wynn directly stated that multiple CEXs had unjustly banned his accounts, claiming the incident stemmed from his opposition to corruption and support for decentralization. He emphasized that he had never participated in selling pressure, his funds were clean, and he had long focused on on-chain meme coins and HyperLiquid trading, without accepting token promotion fees or participating in pump-and-dump schemes. James Wynn stated that if his accounts continued to be banned, he would consider collaborating with the Moonpig team to launch a new platform to counter centralized control: "I was born for war; my lawyer is ready, and I will publicly confront this."

On June 2, James Wynn, waving the banner of crypto freedom and transparency, announced on social media that he decided to suspend contract trading.

However, before the announcement of the suspension could settle, the gambler placed his bets again. Within 4 hours, James Wynn posted a picture of his long position in Bitcoin, directly targeting Wintermute. He tagged the official Wintermute account, stating, "I’m back."

However, this long position had previously incurred a floating loss of over 1.35 million dollars.

In response, James Wynn appeared somewhat "high," raising his arms and shouting, "If you want to support this cause / fight against corruption, buy BTC now. As soon as I went long, I was instantly targeted. There must be some kind of conspiracy; I don't know what it is. It can't just be because of my long position; maybe it's because I'm just a small fish playing in a big whale's game, or because I've drawn everyone's attention to HyperLiquid. Either way, try to support by buying BTC!"

As the price of BTC continued to drop, the giant whale James Wynn clearly became anxious. He urgently posted on social media, stating, "If you want to fight against the market-making group and support me, please transfer USDC to a specific on-chain address. If I win, everyone will get their money back at a 1:1 ratio. Let's defeat them. I need your help." Subsequently, James Wynn deposited the 39,345.11 USDC he had accumulated from donations into Hyperliquid, lowering the liquidation price.

This zero-cost fundraising tweet instantly sparked heated discussions. Has the most popular man in the crypto market started "begging"? In fact, James Wynn, who previously opened positions with high leverage exceeding 1 billion dollars, has fallen from the pedestal of "version child," losing about 100 million dollars in the past week and incurring a net loss of about 17.5 million dollars.

In response, BitMEX co-founder Arthur Hayes posted, "I’m starting to think this (referring to whale James Wynn's attempt at zero-cost fundraising) could become one of the most successful marketing campaigns for a trading platform in crypto history. HYPE will surely win. Moreover, this guy is likely hedging trades under another anonymous address, specifically to take advantage of Hyperliquid's next round of airdrops."

On June 3, after turning his long position in BTC, valued at about 100 million dollars, from a loss to a profit, James Wynn quietly deleted the "begging" tweet he had posted the previous day at 10 PM. Currently, his long position is profitable by over 400,000 dollars. The previous night, at the most critical moment, the price of Bitcoin was only 20 dollars away from the liquidation price of James Wynn's long position, with a floating loss exceeding 1.35 million dollars.

In the end, Lady Luck smiled upon him, and his long position turned profitable. James Wynn's gambling career continued. However, the good times didn't last long; following a "feud" between Trump and Musk, James Wynn lost everything again overnight.

However, as James Wynn has gone through this journey, filling and emptying his pockets, who has become the biggest winner? The continuously rising price of HYPE coins may already explain everything. The founder of Wintermute, who was previously named by James Wynn, wishful_cynic, stated, "Overall, I think 'wynn' is just a very well-executed marketing campaign for HL (Hyperliquid); well done. He is excellent. His tweets are also great." In fact, James Wynn mentions Hyperliquid in an average of every three tweets, continuously emphasizing decentralization, anti-corruption, and anti-manipulation, while vaguely referring to unverified "account bans" scandals of other centralized exchanges. From a communication perspective, James Wynn has achieved the greatest success in the crypto market this year.

Whether James Wynn, waving the banner of openness and transparency, is hedging his massive positions with anonymous addresses, and whether Hyperliquid has a direct interest relationship with James Wynn, all of this remains a black box to us. And behind the unfortunate tweets, James Wynn does not forget to promote Hyperliquid, "In short, if you want to gamble and trade contracts like an idiot, at least use the link below (which will save you trading fees) and use the code 'WYNN'."

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