After extreme ups and downs, he finally gave back all the money he earned to the market.
Written by: Ma He, Foresight News
Recently, a screenshot of Spider's journal spread rapidly on X. In the journal, this trader, who has long been active in the DeFi and meme coin spaces, detailed suicidal thoughts due to consecutive huge losses, attributing them to a gambling mindset, wrong chat rooms, and blind copy-trading, while expressing fear of the idea that "death is relief."
The incident quickly escalated, sparking intense discussions in the community about crypto speculation culture, risk management, and mental health.
Twitter account Trading axe expressed no sympathy for this person, even lashing out: "You tell me an adult man made a fortune from virtual money on the internet, then lost it all, and now feels the need to share 'I want to commit suicide' with the whole world? Alexander Wice lost $1 billion in 2021 due to over-leverage—no complaints, no excuses, then moved on."
However, some community members comforted: "SBF also suffered a heavy blow and was sentenced to 25 years in prison, yet he survived—so this is not necessary."
The protagonist Spider quickly responded in the comment section of his tweet: "Actually, it was something I posted for a minute before someone took a screenshot. Additionally, he added that the text was actually posted a few months ago, and encouraged himself."
So who exactly is Spider? What happened in his past?
Single Address Peaked at $15M
Spider's X account is @SpiderCrypto0x, and he runs the Telegram channel SpiderCrypto Trading Journal (with about 33,000 subscribers). Its content mainly focuses on sharing trading insights about DeFi, NFTs, and meme coins, with a style that emphasizes on-chain data verification. His bio often mentions collaborations with platforms like Rainbet. His X account joined around August 2020, and he was active in the DeFi space in his early days.
Spider was already active in frontline trading during the 2020 DeFi Summer. Long-time observers like Twitter user CryptoCaligh recalled in a post on June 22, 2026: "I was one of the people who bought DeFi coins like crazy with Spider in the trenches. I've been observing his methods since 2020—it's been almost seven years now." His style is known for being aggressive and high-magnitude, often able to quickly scale positions in bull markets. During the same period, he accumulated influence by sharing trading views through TG journals and X.
During the 2021 bull market, Spider achieved significant profits (some users mentioned a level of $6-7 million in a short time). In the 2022 bear market, he almost lost all his wealth (the community estimates a net worth of nearly $10 million). More seriously, there were tax issues—due to showing off his gains in public, he was noticed by tax authorities and owed about $4 million.
According to CryptoCaligh's recollection, he later negotiated an installment plan with the government and received help from old friends, gradually paying off the debt through further trading. This phase exposed the vulnerability of his high-risk methods in a bear market and became the starting point for his reflection on "false confidence."
Spider himself once publicly shared his main TRUMP holding wallet address (J9HqxT4U39B45YcXxL4B1GZzdhSrXFr2N2Lam4bXrQeB) in an X post. According to Arkham data, the address he公布 reached a peak of $12 million in December 2024, then declined all the way. On January 20, 2025, due to TRUMP coin, the account funds soared from about $1.5 million to $8.5 million. After staying at a high level for a few months, the funds began to decline, and by March of that year, the balance was almost gone.
He reflected: "Past success gives you false confidence, making you believe you can do it again. That's one of the reasons for my failure."
Arkham data shows that this wallet address has transferred to as many as 36 addresses on Pump.fun. It is speculated that he may have ended up with huge losses in PvP.
Currently, his Twitter homepage continues to post trading-related content on X, indicating that he is still active in the market.
From Big Wins to Big Losses: Gambling and Trading Are Often a Thin Line Apart
The player is lost in the game, but the observer sees clearly. User CryptoCaligh pointed out his real problem sharply.
"He once put $40,000 into a coin at its peak, and it turned into $500,000 in a day. This kind of operation works in a crazy bull market, but when the bull market recedes, you will lose all the money you earned at the same speed. Gambling and trading are only a thin line apart; many people get deeply stuck in it. Once addicted, it will destroy you."
Additionally, he said: "What's the point of earning millions and then losing them all? It's just a dream. You need to be clear: are you here to invest and earn millions, or are you an addicted gambler?"
In crypto cycles, cases like "get rich quick - zero out - mental breakdown" repeatedly occur. During the 2021 bull cycle, a lot of liquidity poured in, making it easy to make money, but the crypto circle in 2025-2026 is no longer an era where you can pick up money easily. Many concepts have been falsified, VC coins have been abandoned by the community, meme coins have also been tired of by the market in endless PvP, and the difficulty of market trading has increased exponentially.
Those who can survive long-term usually lock in profits in bull markets, build diversified portfolios, and cultivate non-trading identity.