Machi Big Brother's Token Launch Falls Flat

Machi Big Brother, a well-known figure in the blockchain industry, has launched another token, TAIWAN. This move marked his first 'loss' in token launches, with the market cap peaking at only $1.7 million. Machi had claimed he would attempt a 'zero-holding' launch for the first time, buying on the open market just like users.

According to GMGN data, within 1 hour of Machi's post, TAIWAN's market cap peaked and then began a continuous decline. Its current market cap has fallen to around $600,000, with only slightly over a thousand holding addresses. Machi Big Brother has essentially been rugged this time.

This is not the first time Machi has raised funds in the public market, but it's certainly his worst, potentially signaling the complete collapse of his influence. Machi was originally a rapper, debuting in 1992 and enjoying great popularity in Taiwan. In 2017, Machi entered the blockchain industry, launching the blockchain project Mithril, which focused on the concept of 'social mining.'