Machi Big Brother Loses $2.35M Selling NFTs to Fund Leveraged Perp Trades
On-chain data shows NFT collector Machi Big Brother sold 60+ NFTs over six months to fund high-leverage perpetual futures trades, resulting in losses of over 1,000 ETH (~$2.35M).
What we know
An account on X surfaced OpenSea activity data showing Machi (another account on X) systematically liquidating his NFT holdings over six months to margin up on perp trades — a cautionary tale about leverage and conviction mismatch. The 1,000+ ETH loss figure (~$2.35M at current prices) drew significant attention with 52 likes and 20K+ views.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.