The Tragicomic Tale of Machi: From Whale to Minnow in One Cryptic Night!

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Alas, poor Machi-whale no more! His 25x ETH gambit crumbled like a poorly coded smart contract, leaving $28.95 million in losses and a mere $24.9K to show for it.

Machi Big Brother, that modern-day Midas with a penchant for turning digital gold into vapor, suffered a financial epiphany so profound it couldā€™ve been written by Dostoevsky himself. Nearly $29 million vanished, liquidated with the grace of a poorly timed rug pull at a crypto cocktail party.

The final act of this tragicomedy? A 25x Ethereum long so desperate it couldā€™ve been mistaken for a Hail Mary pass from a drunk trader. Margin requirements? Bah! They vanished like my patience during a DeFi rug pull.

25x Ethereum Long Triggers Final Liquidation (Or, How to Lose Friends and Destroy Millions)

The last gasp of this crypto odyssey was a 25x leveraged bet on Ethereum, closed with the elegance of a poorly timed exit from a burning building. Margin requirements were ignored like a friendā€™s birthday until it was too late.

Lookonchain, that digital oracle of doom, declared, ā€œMachi has been fully liquidated,ā€ while his remaining balance clung to life at $24,900-enough to buy a sandwich and a very expensive sense of irony.

Total realized losses? A staggering $28.95 million, all while Ethereumā€™s price danced like a drunkard in a bear market. Public dashboards tracked his descent into madness with the excitement of a Netflix docuseries.

No One Literary No One but Machi got liquidated on his 25x long, losing ~29M. A cautionary tale for the ages, or just another Tuesday in DeFi?

– Onchain Lens (@OnchainLens)

Ethereum, that fickle mistress, consumed most of Machiā€™s portfolio. Bitcoin and smaller tokens tried to play Cupid, but Ethereumā€™s charm turned to venom as volatility spiked. Liquidation buffers? They evaporated like a crypto influencerā€™s credibility during a market crash.

As prices wobbled, Machiā€™s margin cushions thinned until they were as useful as a sieve in a hurricane.

Repeated High-Leverage Strategy and Margin Additions: A Recipe for Financial Ruin

Blockchain data reveals a pattern more predictable than a failed airdrop: Machi would open 25x longs with the enthusiasm of a man whoā€™d never heard of ā€œrisk management,ā€ then add margin like it was confetti at a failed Initial Coin Offering.

When prices turned against him, heā€™d pour on more margin, a strategy as wise as a snowball in hell. On-chain observers dubbed it ā€œhigh-conviction averagingā€-a phrase that now reads like a cursed incantation.

Public dashboards from Lookonchain and Hyperdash displayed liquidation thresholds thinner than a stablecoinā€™s peg. Once collateral levels hit rock bottom, automated systems closed his positions with the mercy of a bear market in a bullā€™s den.

Related Reading: Machi Sells ETH, Doubles Down on BTC: Liquidity Crunch or Bold Bet?

Market Volatility and Account Depletion: A Symphony of Sorrow

The broader crypto market, that chaotic carnival, experienced volatility so wild it couldā€™ve made a derivatives trader weep. Ethereum and Bitcoin plummeted, and leveraged longs crumbled like a poorly secured mast on a crypto yacht.

Open interest dwindled as traders fled, and Machiā€™s account balance fell below $1 million so often it became a running gag. Each partial liquidation chipped away at his equity until recovery became as likely as a bull market in 2023.

Machi Big Brother, real name Jeffrey Huang (yes, really), is a Taiwanese-American entrepreneur who once commanded the crypto seas. Now, his account is a ghost ship, its equity nearly gone, its legacy a cautionary tale for the ages.

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2026-02-24 20:04