James Wynn, a trader in cryptocurrencies, had a catastrophic loss that was more than $99 million in a span of only one week. This occurred when his long position of 949 BTC was liquidated. As Bitcoin slipped below the $105,000 threshold, Wynn’s high-leverage strategy began to unravel rapidly.

Wynn had constructed a stake that was worth at over $178 million, and it was exclusively devoted to Bitcoin. This was accomplished with just $3.5 million in permanent equity available. His aggressive bet reflected strong confidence in a bullish Bitcoin move. However, the market didn’t follow suit.

According to available data, Wynn’s unrealized profit and loss dropped significantly, with consistent daily losses recorded between May 23 and May 30. His final weekly account balance showed a net loss of $99,197,131.51, along with $4.39 million in unrealized losses and a return on equity of -98.84%.

In the past 24 hours alone, Wynn lost an additional $12.8 million as Bitcoin’s price continued its descent—from $107,983 down to $105,995, edging dangerously close to his liquidation price at $104,607.

The liquidation event has garnered a lot of attention on Twitter for cryptocurrency, which has led to discussions on the risks associated with using an excessive amount of leverage. While high leverage can amplify gains, it can just as easily accelerate catastrophic losses when the market shifts unexpectedly.

Wynn’s case may soon be marked as one of the largest weekly losses in crypto history—highlighting the ever-present risks of leveraged trading.