Taiwanese-American artist and businessman Jeffrey Huang, known as Machi Big Brother in the digital world, has been heavily investing in the $FRIEND cryptocurrency. Lookonchain, a renowned on-chain analytics platform, revealed that Huang began acquiring $FRIEND coins on May 3rd. The analytics company shared this information on their official X account.
Under the Twitter handle @machibigbrother, Huang has been steadily purchasing $FRIEND tokens. He has spent a whopping 4,975 $ETH (equivalent to $15.6 million) to secure 8.6 million $FRIEND coins, with an average price of $1.81 per token. Unfortunately, with the current price of the token, Huang has faced a loss of around $7.9 million on his $FRIEND investment.
Lookonchain reported that Huang made these substantial buyouts using $ETH tokens to acquire $FRIEND. The musician, also known for his hip-hop group “Machi,” delved into Esports after Taipei Assassins clinched the Season 2 World Championship. This ignited his passion for establishing an Esports team, leading to the creation of Machi E-Sports in 2014. The team swiftly gained recognition globally as one of the top teams.
In 2017, Huang ventured into the cryptocurrency realm with Mithril, joining a wave of projects with diverse team members and significant price fluctuations. Despite his success in the Esports and crypto sectors, Huang’s recent investment in $FRIEND has resulted in a substantial loss of nearly $7.9 million.