NFT Mogul transfers millions worth of NFTs to show support for Binance
In a surprise 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 meant to demonstrate solidarity and support for Binance amid the recent legal actions taken by the US Securities and Exchange Commission (SEC).
NFT Whale Rack with Binance
According to Etherscan, many NFTs belonging to BAYC and MAYC have been moved to crypto exchange Binance by Machi Big Brother. With a total value of almost 2,900 ETH, Machi Big Brother’s action started further 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. Although he has been associated with several failed token projects and NFT ventures.
The decision by NFT Mogul to transfer its 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 think 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 received in the industry.
Crypto Twitter with Binance?
As evidenced by the poll and trending tweets, there has been a lot of support from the 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 quoting his tweet 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 unassailable.
The United States Securities and Exchange Commission (SEC) has sued the exchange and its CEO, Changpeng “CZ” Zhao for violating US securities laws.
A.D
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