Machi rebuilds leveraged crypto account as Bitcoin returns to $80,000

Bitcoin returned to $80,000 on Aug. 24 after 101 days below that level, according to TradingBeats monitoring cited by BlockBeats. Around the same time, Huang Licheng, also known as Machi Big Brother and the "Maji" boss, added about $12 million to leveraged positions across Bitcoin, Ethereum, HYPE and PUMP. Separate ChainCatcher reporting citing Lookonchain said Machi's account had previously fallen below $60,000 after liquidation before growing nearly 200-fold and opening $113 million in BTC and ETH longs, including 23,350 ETH worth $59 million and 668 BTC worth $54 million.

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