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- The total value of Machi Big Brother’s transaction was approximately 2,900 ETH.
- The U.S. SEC has initiated legal proceedings against Binance and its CEO CZ on various charges.
Machi Big Brother, a prominent NFT collector and former musician and tech entrepreneur, recently gained attention by announcing the transfer of their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs to the popular Binance cryptocurrency exchange.
This action was taken as a demonstration of support for Binance amid the recent legal challenges posed by the U.S. Securities and Exchange Commission (SEC). According to Etherscan, Machi Big Brother has moved several NFTs, specifically BAYC and MAYC, to the Binance platform.
Significant Support Amid SEC Actions
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The total value of Machi Big Brother’s transaction was approximately 2,900 ETH, igniting discussions regarding the ongoing conflict between regulators and the cryptocurrency industry. As one of the largest holders of BAYC NFTs, Jeffrey Huang, known as Machi Big Brother, has gained recognition within the NFT space, despite his participation in several unsuccessful NFT and token projects.
While Binance confronts legal challenges from the SEC, the NFT collector has opted to transfer their valuable BAYC and MAYC NFTs to the exchange.
In a separate development, CZ conducted a Twitter poll asking followers to choose between Binance and the SEC regarding which entity they believe offers better security for cryptocurrency investors. Over eighty-five percent of participants expressed a preference for Binance, reflecting the widespread support for the exchange.
There has been considerable enthusiasm for Binance within the cryptocurrency community, as evidenced by the poll results and trending tweets. Following the SEC’s actions against Binance, FBG Capital demonstrated its support by transferring 44 million USDT to the exchange.
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