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Former Taiwanese-American musician and tech entrepreneur Jeffrey Huang, also known as Machi Big Brother purchased 6 billion PEPE tokens for $12,000 USD, just a few hours ago. Huang has a controversial history in the crypto space, having previously embezzled 22,000 ETH from Formosa Financial and launching multiple failed pump-and-dump tokens and NFT projects.

Machi Big Brother’s Bet On PEPE?

According to a transaction record on Arkham, Machi Big Brother, a well-known NFT mogul, purchased 5 billion $PEPE tokens for $9,100 USD approximately 14 hours ago through a Uniswap V2 Pool. This was followed by a 6B token purchase, worth $12,000 USD, just four hours ago.

The transaction was made through his Ethereum address ‘machibigbrother.eth’ and the PEPE tokens were purchased at an unknown average price.

This is not the first time that Machi Big Brother has made a large purchase in the crypto space, as he has acquired over 66 billion $PEPE tokens in the past three days with a total investment of 73.4 ETH.

On April 23rd, Machi Big Brother took to Twitter and rejected claims that he was the founder of Nakamigos or the $PEPE token.

Stop spreading fud. I was not the founder of Nakamigos or $PEPE. It was Beeple/Yuga.

Skeptical Crypto History Raises Brows

Jeff Huang’s involvement in two projects, Mithril and Formosa Financial, both of which raised funds through initial coin offerings (ICOs) in 2018 raises questions about his involvement with misleading projects. Jeff Huang has been collecting NFTs for several years and has a vast collection, which includes rare pieces such as CryptoPunks and Bored Ape Yacht Club NFTs. Huang has also launched his own NFT collection called “Huang’s World.

Given his past, it’s possible that Machi Big Brother’s acquisition of $PEPE could be an attempt to manipulate the market and create a pump-and-dump scenario. Alternatively, he could genuinely believe in the future potential of the token and its use cases in the growing NFT market.

With this latest move, many are wondering what Machi’s next move will be and what it means for the future of $PEPE and the wider crypto market.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.