Machi Big Brother announced the transfer of their BAYC and MAYC NFTs to Binance in a move that surprised the cryptocurrency community.
In response to recent legal actions taken by the US Securities and Exchange Commission (SEC), the Binance community intended the action to demonstrate its support.
NFT Whale Supports Binance
According to Etherscan, Machi Big Brother has transferred numerous NFTs from BAYC and MAYC to the cryptocurrency exchange Binance. This action by Machi Big Brother has sparked discussions about the ongoing conflict between regulatory bodies and the cryptocurrency industry.
Experts estimate that the total value of these NFTs is around 2900 ETH. Jeffrey Huang, also known as Machi Big Brother, gained prominence in the NFT industry as a major holder of BAYC NFTs. This happened despite being associated with unsuccessful NFT and token projects.
Now, as NFT Mogul decides to transfer its valuable BAYC and MAYC NFTs to Binance, the exchange is facing legal challenges from the SEC.
Crypto Twitter With Binance?
CZ initiated a Twitter poll. Participants were asked to choose between Binance and the SEC as the organization they believed could provide better protection. The aim was to engage the crypto community.
Therefore over 85% of respondents favored Binance, indicating the significant support the exchange has garnered within the industry. The survey and the subsequent trending tweets leave no doubt that Binance has received extensive backing from the cryptocurrency community.
FBG Capital placed all 44 million USDT in Binance to show its support when the SEC sued Binance. Justin Sun tweeted in support of CZ, quoting the following:
“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 beyond reproach”
The Securities and Exchange Commission (SEC) of the United States has filed a lawsuit against the exchange and its CEO, Changpeng “CZ” Zhao, for violating US securities laws.
