The BAYC Liquidation Data
Published 6/28/2026, 9:10:30 AM
Machi Big Brother (Jeffrey Huang) is liquidating his Bored Ape Yacht Club (BAYC) NFT collection at losses as high as 90% to fund a high-leverage Martingale-style long strategy on Ethereum (ETH). His rationale centers on extreme conviction that ETH will eventually rebound, leading him to treat his illiquid NFT assets as "fuel" to cover margin requirements and prevent the liquidation of his massive leveraged positions on Hyperliquid [Source: https://finance.yahoo.com/news/machi-big-brother-loses-75-123000456.html].
The BAYC Liquidation Data
Machi has offloaded dozens of NFTs to generate immediate liquidity for his trading account. The most significant losses are realized in ETH terms, reflecting the severe decline in NFT floor prices relative to his original acquisition costs.
| Metric | Value / Detail | Source |
|---|---|---|
| Total BAYC Sold | 34 NFTs (past month) | Source |
| Total Realized Loss | 399 ETH (~$6.31 million) | Source |
| Bored Ape #6057 Sale | Sold for 7.65 ETH (Purchased for 76.84 ETH) | Source |
| Percentage Loss (#6057) | 90.04% [Note: not independently confirmed] | Source |
Strategic Rationale: The Martingale Approach
Machi’s strategy is characterized by a refusal to cut losses, instead "doubling down" as the price of ETH drops. This is a classic Martingale strategy, which requires continuous capital injections to maintain positions during drawdowns [Source: https://www.kucoin.com/news/machi-big-brother-trading-losses-hyperliquid].
- Margin Maintenance: The primary reason for selling BAYC at a 90% loss is to deposit the proceeds into Hyperliquid to avoid the liquidation of existing ETH longs, some of which have entry prices as high as $4,700 [Source: https://www.ccn.com/news/crypto/machi-big-brother-75-million-loss-hyperliquid/].
- High Leverage: Machi typically utilizes 25x to 40x leverage, making his positions extremely sensitive to small price movements [Source: https://www.kucoin.com/news/machi-big-brother-trading-losses-hyperliquid].
- Trading Philosophy: Machi has publicly stated a binary view of his trades: "I never lose. I win or I get liquidated" [Source: https://x.com/machibigbrother/status/2070941727297585258].
Financial Impact and Current Status
Despite the aggressive funding from his NFT collection, the strategy has resulted in catastrophic losses over the last six months.
- Cumulative Losses: Estimated between $73 million and $78 million [Source: https://www.ccn.com/news/crypto/machi-big-brother-75-million-loss-hyperliquid/].
- Liquidation Frequency: He has faced over 335 liquidations, with a peak of 262 liquidations occurring in January 2026 alone [Source: https://www.ccn.com/news/crypto/machi-big-brother-75-million-loss-hyperliquid/].
- Account Erosion: His Hyperliquid account balance, which once held tens of millions in unrealized profit, was reported to have dropped to approximately $100,000 in May 2026 [Source: https://finance.yahoo.com/news/machi-big-brother-loses-75-123000456.html].
While Machi has successfully used this "double down" tactic to turn a profit in the past—notably a $2 million profit in June 2025—the current market conditions have forced him to sacrifice his blue-chip NFT portfolio to keep his leveraged ETH bets alive [Note: June 2025 profit claim not independently confirmed].