NFT Whale Dumping Yuga NFTs After ApeCoin Tweet

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One of the biggest NFT whales and holders of Bored Ape and Mutant Ape Yacht Club NFTs has been accepting WETH offers for his Yuga Labs assets after indicating his opposition to a ApeCoin tweet that asked holders to weigh in on a proposal from a competing marketplace.

Taiwanese tech entrepreneur Jeffrey Huang, who goes by Machi Big Brother on Twitter, responded "F*ck ApeCoin" in a now-deleted tweet in response to Magic Eden's ApeCoin marketplace proposal, which was retweeted and linked to by the ApeCoin Twitter account. Huang is the founder of Machi X which submitted a proposal for an ApeCoin marketplace in July. He's also the founder of Ape Finance, which submitted a proposal for a 250,000 $APE grant to build out its DeFi protocol. Neither proposal received similar treatment from the ApeCoin Twitter account, Huang complained.

In response, Huang accepted 14 WETH bids for Mutant Ape NFTs in the past 24 hours. He also sold a rare MAYC for 25 ETH. Huang still owns 52 Bored Ape Yacht Club NFTs, 82 Mutant Ape NFTs, 212 Otherdeeds, and 37 Bored Ape Kennel Club NFTs.

Huang's offer acceptance hasn't affected the Mutant Ape floor price which is up 2 percent to 16.47 ETH in the past 24 hours.

Huang was the subject of an investigation by blockchain reporter ZachXBT who alleged that Huang was behind 10 failed projects and took more than 22,000 ETH from Formosa Financial in 2018. Huang called Zach's reporting "lies" and said he had "absolutely zero evidence or proof."

Huang's main wallet doesn't have an $APE in it as of 11:45 a.m. ET on Wednesday after he transferred 1 million $APE to another wallet and then to a Binance account. The price of $APE dipped suddenly Tuesday night before rebounding early Wednesday morning.

Author Bio

TD Marquis

A veteran journalist and editor with more than a decade's worth of experience, TD helped a small community newspaper in Vermont win a New England Newspaper Association Right to Know Award in 2014. TD helped compile five years' worth of invoices to uncover a long-established practice of small-town government officials paying themselves six figures to do small jobs around town. TD discovered NFTs with Top Shot in 2021 and his first NFTs on ETH were saving two Mooncats. He is now the proud owner of Rowhome #61 and 1,300 other NFTs of questionable value. He also sent 4 ETH to a fake Mekaverse site and wants Lucky Trader readers to avoid the same fate.

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