I noticed a quite dramatic story in the crypto space. Machi Big Brother — the same trader known for aggressive positions on Hyperliquid — just had his assets drop below one million dollars. And this is after losing 28 million. Overall, if you look at the blockchain data, it’s clear that he was adding margin to his positions using funds from the PleasrDAO treasury. His capital was nearly nine figures before, but in recent months, everything has sharply fallen apart.

This is a typical case for Jeffrey Huang — a controversial figure in crypto who constantly rises and falls. Digging deeper, his history is full of failures. In 2017, he launched Mithril, which literally collapsed. Later, he was a co-founder of Formosa Financial — where they lost 22,000 ETH under quite strange circumstances. DeFi projects like Cream Finance also didn’t succeed. Even his NFT collection, which he later liquidated, impacted the market.

His meme coins like Boba Oppa also didn’t take off. And now, this whole story with Machi and huge losses. Honestly, it raises questions about what’s next. Can he recover, or is this the end of his crypto venture — only time will tell. But for now, it’s a good example of how quickly everything can fall apart on decentralized exchanges if risks are mismanaged.