Is funding running dry? 'Brother Big' sells Bored Ape NFTs at a loss to cover Ethereum positions

Prominent cryptocurrency investor Hwang Li-cheng, known as "Brother Big," is reportedly offloading his Bored Ape NFTs at a loss to support his leveraged Ethereum positions on the Hyperliquid platform. This move comes amid recent volatility in the crypto market, drawing attention to his trading activities.

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Brother, take a break. Rest for a week or two, clear your positions, calm down, and go sunbathe on the beach.

According to on-chain analysis by Lookonchain, Hwang has sold 34 Bored Ape NFTs over the past month, generating 326 ETH. However, this has resulted in an overall loss of approximately 399 ETH. One of the most significant losses came from the sale of Bored Ape #6057, which fetched only 7.65 ETH, representing a nearly 90% loss in value.

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Leveraged trading in this market environment is simply suicidal.

Simultaneously, Hwang's leveraged positions on Hyperliquid have faced repeated liquidations. As of early morning on June 28, his account was forcibly liquidated again, leaving a balance of only about $81,000. The situation has sparked considerable discussion online, with comments ranging from encouragement to "Brother, take a break" to criticism of his trading strategies in the current market environment.

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I actually sympathize with him. I think he has a gambling addiction.