Blockchain enthusiast Jeffrey Huang, better known as @machibigbrother on the X, has been steadily accumulating $APE tokens since August 2.
This adds up to a total of 4.73 million $APE tokens currently held in the ApeCoin Staking protocol.
Over the past few months, Huang has deployed a total of 1,761 $ETH (equivalent to $2.89 million) and 52,000 $USDC to acquire 2.24 million $APE tokens valued at $2.94 million.
These consistent purchases suggest his continued faith in the ApeCoin project, despite its recent underwhelming performance, with a decline of -73.8% in the past six months.
Lawsuit Against ZachXBT
Coinlive reported on how this August, Huang withdrew a lawsuit against crypto investigator ZachXBT, which he had previously claimed was defamatory.
This legal dispute stemmed from a June 2022 Medium article by ZachXBT, where allegations of embezzlement were levelled against Huang in connection with his previous involvement in cryptocurrency ventures.
These allegations have not been substantiated in a court of law.
On June 16, 2023, Jeffrey Huang filed a defamation lawsuit against ZachXBT in the United States District Court for the Western District of Texas, asserting that the allegations in ZachXBT’s article are untrue.
