Gate News message, April 17 — James Wynn, a crypto trader known for once holding a $1 billion Bitcoin long position, launched a memecoin presale that raised just $8,000 in its first ten hours (April 17), drawing scrutiny over past community accusations of scamming.
The token, ticker $ASSDAQ, was launched on the Solana network with a presale structure asking participants to donate SOL in exchange for up to 50% of the token supply. The low initial traction drew immediate criticism on X, where at least one community member publicly labeled Wynn a “serial scammer” and warned inexperienced investors to stay away. Wynn rose to prominence after reportedly turning aggressive leveraged positions into over $100 million in profits, though claims circulated that he subsequently lost the bulk of his gains through the same high-leverage strategy. In response, Wynn posted on X describing himself as one of the top ten traders in the world and citing his macro and geopolitical predictions as evidence, writing “I outperformed this market to absolute perfection.” He also issued bearish macro calls, warning of an impending global economic collapse and urging followers to sell ahead of what he described as an “Armageddon” scenario for markets.
The $8,000 raised signals that market participants remain hesitant to follow Wynn into his latest venture.
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