James Wynn’s Painful Comeback: Reopens PEPE Long, Faces Another Brutal Liquidation
Pseudonymous high-leverage crypto dealer James Wynn has gained widespread notoriety for his unstable fortune, repeatedly making and shedding a whole lot of hundreds of thousands via leveraged bets on crypto perpetual futures markets.
Market chaos seems to have struck him once more as Wynn’s recent PEPE guess collapses inside hours, extending a brutal streak of crypto liquidations.
Risky PEPE Bet Ends in More Liquidations
In its newest tweet, on-chain analytics platform Lookonchain reported that Wynn suffered a whole liquidation in the course of the current market dip, which additionally partially liquidated fellow dealer “Machi Big Brother,” who has now misplaced over $53 million on Hyperliquid previously month.
Despite the setback, Wynn reopened a 10x lengthy place on meme token PEPE shortly afterward, solely to face one other partial liquidation lower than six hours later. The speedy sequence of losses comes amid turbulent market circumstances and a large decline within the costs of each prime crypto belongings in addition to meme cash.
Following the third liquidation, Lookonchain tweeted,
“Once once more! Both James Wynn and Machi Big Brother bought liquidated within the newest market crash! These two are like brothers in arms – by no means giving up on their longs, but at all times getting worn out.”
Controversy Over Insider Activity
Blockchain analytics agency Bubblemap lately revealed that Wynn’s meme coin enterprise, YEPE, could also be following a well-known and troubling sample. Once hailed for turning a modest $7,000 PEPE guess into hundreds of thousands, Wynn’s buying and selling historical past has as soon as once more come below scrutiny for potential insider exercise. According to Bubblemap’s evaluation, practically 60% of YEPE’s provide is concentrated amongst insiders, lots of whom function wallets funded via the identical centralized exchanges comparable to LBank, KuCoin, and MEXC. This regarded like a coordinated accumulation effort.
The report additional claimed that the dealer’s coin promotions are sometimes accompanied by influencer-driven hype cycles and engineered to draw retail demand whereas insiders quietly offload their holdings.
Even as Wynn stays one in every of crypto’s most controversial figures and has attracted accusations of manipulation, he continues to obtain public endorsements from main trade gamers. Critics warn that such backing might normalize insider-dominated markets and permit manufactured momentum to masquerade as natural group progress.
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