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NFT Mogul Transfers NFTs Worth Millions To Show Support For Binance

source-logo  coingape.com 06 June 2023 14:50, UTC

In a surprising move that caught the attention of the crypto community, Machi Big Brother, a prominent NFT mogul and former musician and tech entrepreneur, announced the transfer of their Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs to the popular cryptocurrency exchange Binance. The move was intended to demonstrate solidarity and support for Binance amidst the recent legal actions taken by the US Securities and Exchange Commission (SEC).

NFT Whale Stands With Binance

According to Etherscan, numerous NFT belonging to BAYC and MAYC have been moved to crypto exchange Binance by Machi Big Brother. With a combined value of nearly 2,900 ETH, Machi Big Brother’s action further ignited discussions around the ongoing battle between regulatory authorities and the crypto industry.

Machi Big Brother, also known as Jeffrey Huang, gained recognition in the NFT space as one of the largest holders of BAYC NFTs. Though he has been associated with several failed token projects and NFT ventures.

The decision by NFT Mogul to transfer their valuable BAYC and MAYC NFTs to Binance comes at a time when the exchange is facing legal challenges from the SEC.

To further engage the crypto community, CZ initiated a Twitter poll asking users to choose who they believe can provide better protection: Binance or the SEC. The overwhelming response, with over 85% of participants favoring the former, indicates the strong support the exchange has garnered within the industry.

Crypto Twitter With Binance?

As evident from the poll and trending tweets, there have been numerous support from crypto community for Binance. After the SEC sued Binance, FBG Capital deposited all 44 million USDT in Binance to express support.

Justin Sun expressed solidarity with CZ by quoting his tweet and saying:

I wanted to take a moment to express my unwavering support for you. As one of my friends, I trust you and believe in your integrity. We are here for you! I am fully aware of your dedication to advancing the cryptocurrency industry, and your abilities and ethics are beyond reproach.

The United States Securities and Exchange Commission (SEC) has sued th exchange and its Chief Executive Officer, Changpeng “CZ” Zhao for the violation of US securities laws.