FBG Capital and a prominent NFT whale, machibigbrother.eth, have expressed their support for Binance, one of the world’s largest cryptocurrency exchanges. This comes after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance, accusing the exchange of offering securities without the necessary regulatory compliance.
FBG Capital, a leading digital asset management firm, demonstrated its loyalty by depositing all 44 million USDT (Tether) into Binance. Additionally, machibigbrother.eth, a notable NFT collector, transferred their entire collection of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs to Binance, valued at approximately 2,900 ETH.
FBG Capital’s show of support for Binance highlights the solidarity within the crypto community, where investors and enthusiasts rally behind platforms facing regulatory challenges. By depositing a substantial amount of USDT, FBG Capital aims to emphasize their belief in Binance’s ability to navigate the legal proceedings. Similarly, machibigbrother.eth’s decision to transfer their valuable NFTs to Binance serves as a symbolic gesture, demonstrating their confidence in the exchange’s future prospects.