Prominent crypto trader and investor Jeffrey Huang, known as "Machi Big Brother," has suffered a catastrophic loss of approximately $74 million over the past six months due to a series of highly leveraged long positions on Ethereum (ETH). On-chain intelligence firm Arkham reported on March 2, 2026, that Huang's account on the Hyperliquid derivatives platform now holds a balance of only between $8,500 and $10,000, indicating nearly all of his trading capital has been wiped out.
The massive losses stem from a persistent bullish bet on ETH that began in September 2025, when Ethereum was trading near its cycle high of around $4,700. Huang repeatedly opened long positions with leverage as high as 25x. However, the market moved decisively against him as ETH's price plummeted, falling from the $4,700 level to below $2,000 by early 2026.
Arkham data reveals that Huang was liquidated roughly 145 times since October 2025, with each liquidation progressively eroding his capital. Despite attempts to recover, including injecting an additional 245,000 USDC from various wallets and treasury funds linked to PleasrDAO, the market's continued downward trend overwhelmed his positions. At one point, his account showed an unrealized loss on a position of about 155 ETH.
Huang, a Taiwanese-American former hip-hop artist with the group L.A. Boyz, transitioned into crypto in 2017. His history in the space is marked by controversy and high-profile failures. He founded the failed project Mithril, was involved with Formosa Financial (from which 22,000 ETH reportedly went missing), and forked Compound to create Cream Finance, which suffered over $192 million in exploits. In 2022, on-chain investigator ZachXBT accused him of embezzlement, leading to a defamation lawsuit from Huang.
The incident serves as a stark warning about the dangers of extreme leverage in volatile crypto markets. At the time of the report, ETH was trading at $1,955, down 54.80% over the previous 180 days. Analysts attribute the broader market weakness to reduced expectations for Federal Reserve rate cuts amid geopolitical risks and sticky inflation, which has suppressed risk appetite.
Market analysts project a trading range for ETH between $1,770 and $2,160 for the coming week, with the probability of a sustained rally remaining below 20%. Viktoras Karapetjanc of Traders Union noted that a breakout above $2,021 would be the first signal of relief for the asset.
