Former Taiwanese-American musician and tech entrepreneur Jeffrey Huang, also called Machi Big Brother bought 6 billion PEPE tokens for $12,000 USD, only a few hours in the past. Huang has a controversial historical past within the crypto area, having beforehand embezzled 22,000 ETH from Formosa Financial and launching a number of failed pump-and-dump tokens and NFT tasks.
Machi Big Brother’s Bet On PEPE?
According to a transaction document on Arkham, Machi Big Brother, a widely known NFT mogul, bought 5 billion $PEPE tokens for $9,100 USD roughly 14 hours in the past by means of a Uniswap V2 Pool. This was adopted by a 6B token buy, value $12,000 USD, simply 4 hours in the past.
The transaction was made by means of his Ethereum deal with ‘machibigbrother.eth’ and the PEPE tokens have been bought at an unknown common value.
This will not be the primary time that Machi Big Brother has made a big buy within the crypto area, as he has acquired over 66 billion $PEPE tokens up to now three days with a complete funding of 73.4 ETH.
On April twenty third, Machi Big Brother took to Twitter and rejected claims that he was the founding father of Nakamigos or the $PEPE token.
Stop spreading fud. I used to be not the founding father of Nakamigos or $PEPE. It was Beeple/Yuga.
Skeptical Crypto History Raises Brows
Jeff Huang’s involvement in two tasks, Mithril and Formosa Financial, each of which raised funds by means of preliminary coin choices (ICOs) in 2018 raises questions on his involvement with deceptive tasks. Jeff Huang has been gathering NFTs for a number of years and has an enormous assortment, which incorporates uncommon items similar to CryptoPunks and Bored Ape Yacht Club NFTs. Huang has additionally launched his personal NFT assortment referred to as “Huang’s World.
Given his previous, it’s attainable that Machi Big Brother’s acquisition of $PEPE could possibly be an try to control the market and create a pump-and-dump state of affairs. Alternatively, he might genuinely imagine sooner or later potential of the token and its use instances within the rising NFT market.
With this newest transfer, many are questioning what Machi’s subsequent transfer shall be and what it means for the way forward for $PEPE and the broader crypto market.
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