Jeffrey Huang, a Taiwanese-American singer and entrepreneur going by Machi Big Brother on X, has been doubling down on $FRIEND. As per Lookonchain (a famous on-chain analytics platform), the entrepreneur has been purchasing the $FRIEND coin since the 3rd of last month. The analytics company disclosed his $FRIEND buyout on its official account on the X.
Machi Big Brother(@machibigbrother) has been buying $FRIEND since May 3.He has spent 4,975 $ETH($15.6M) to buy 8.6M $FRIEND at an average price of $1.81.At the current price, he lost $7.9M on $FRIEND!https://t.co/j5UByo2jpN pic.twitter.com/tiew7f377A
— Lookonchain (@lookonchain) June 8, 2024
Machi Big Brother Makes Frequent Buyouts of $FRIEND with $ETH
According to Lookonchain, the entrepreneur utilized $ETH tokens to purchase $FRIEND. In line with the reports, the popular musician known as Big Brother who possesses the hip-hop group named “Machi” is on a buying spree. A few years back, he started taking interest in Esports following Taipei Assassins earned the Season 2 World Championship title.
Since that time, he started pursuing his dream of establishing an Esports team. Following that, in 2014, the entrepreneur made Machi E-Sports. Subsequently, the team obtained significant popularity by entering the list of the best teams around the world. While moving forward, Huang became a part of the crypto sector in the year 2017 with Mithril. It stood among the earliest in a series of projects possessing diverse team participants and huge price fluctuations.
The Entrepreneur Loses Nearly $7.9 Million on $FRIEND
Recently, he has swapped up to 4,975 $ETH to purchase 8.6 million $FRIEND coins. The value of the spent $ETH tokens equaled $15.6 million. Lookonchain asserted that the entrepreneur bought the $FRIEND tokens at $1.81 as the average price. At the moment, based on the present price of the token, Machi Big Brother lost approximately $7.9 million on $FRIEND.