Wynn’s $100M Bitcoin Flameout Followed by Bold PEPE Gamble Raises Eyebrows Across Crypto
From a nine-figure Bitcoin implosion to a memecoin moonshot, the enigmatic trader “Wynn” has turned the crypto world into a high-stakes soap opera.
Just days after torching over $100 million in Bitcoin long positions, Wynn has returned to the market with a vengeance—this time, wagering over $12 million on PEPE, the frog-themed token beloved by meme traders.
Data from Hyperdash shows Wynn entered a 10x leveraged long on PEPE at $0.0129, scooping up 934 million tokens. The position is already up more than 10%, a modest but significant swing for a trader fresh off one of the most dramatic losses in onchain history.
Wynn’s downfall earlier in the week was jaw-dropping. His record-setting $1.25 billion notional long on Bitcoin—entered at a lofty $108,243—was crushed when BTC dipped below $105,000 following President Trump’s shock tariffs on EU exports. A series of massive liquidations, including positions worth $55 million and $44 million respectively, sent his portfolio into a tailspin.
The swift pivot to PEPE has set off a frenzy of speculation. Is Wynn a real trader with an appetite for extreme risk? Or a calculated construct designed to showcase the robustness of Hyperliquid, the onchain derivatives platform where all these trades have unfolded?
Whether gambler or ghost, Wynn’s trades have had a very real impact. They’ve stress-tested Hyperliquid’s infrastructure under billion-dollar load—without a hitch. That proof of performance hasn’t gone unnoticed: HYPE, the platform’s native token, has climbed 20% over the past two weeks, buoyed by the drama and attention.
At this point, Wynn’s identity might be irrelevant. In crypto, spectacle is currency—and Wynn is spending it like there’s no tomorrow.
