Taiwanese-American artist and entrepreneur Jeffrey Huang, known as Machi Big Brother on X, has been heavily investing in the $FRIEND cryptocurrency. According to Lookonchain, a renowned on-chain analytics platform, Huang began purchasing $FRIEND coins on May 3rd. The analytics company revealed his significant buyout of $FRIEND on their official X account.
Machi Big Brother, under the username @machibigbrother, has been consistently acquiring $FRIEND since the beginning of May. He has dedicated 4,975 $ETH (equivalent to $15.6 million) to obtain 8.6 million $FRIEND coins at an average price of $1.81. However, at the current market price, he has faced a loss of approximately $7.9 million on his $FRIEND investment.
Lookonchain reported that Huang utilized $ETH tokens to make his purchases of $FRIEND. The musician, famous for his involvement in the hip-hop group “Machi,” shifted his focus to Esports after witnessing Taipei Assassins secure the Season 2 World Championship title. This led him to establish Machi E-Sports in 2014, which quickly gained recognition as one of the top teams globally.
Transitioning into the cryptocurrency sector in 2017 with Mithril, Huang became part of a pioneering project marked by a diverse team and significant price fluctuations. Despite his success in Esports and crypto ventures, his recent investment in $FRIEND has resulted in a substantial loss.