James Wynn admits to overleveraging, succumbing to the spotlight effect, leading to a meltdown in the end.

August 10th, James Wynn put out a post and summed it up like this: "In this world, there is no such thing as a mistake. There are only lessons. Whenever I encounter what others might call a mistake or a failure in my life, I always manage to learn from it. The most significant lesson recently was when I turned 3 million dollars into 100 million dollars but then lost it all in front of everyone." "That time was extremely intense - with adrenaline pumping, chaos all around, and a complete madness. I faced it with a smile and a laugh. This is another lesson - I got overly leveraged and was blinded by all the 'attention,' losing complete control of my emotions. I don't want to change anything that has happened. Even if you were to send me back to that moment and give me the choice to cash out, I wouldn't. I value this lesson more. Money is boundless; it is everywhere and easy to make." "When I reached 100 million dollars, you cheered for me. And when I fell to the bottom, you laughed at me. Because you know, you will never have the chance to see, feel, or earn 1 million dollars. Never. That's why only 1% of people hold 99% of the wealth, and why the rich keep getting richer - because 99% of people simply don't have that ability. That is the harsh truth. Money is not a real thing."