In a surprising turn of events, renowned on-chain analyst ZachXBT has exceeded his initial fundraising target, amassing a staggering $1,055,233 in donations, according to Nansen data. This remarkable achievement has been made possible through contributions from various entities and influential figures within the crypto industry.
Prominent supporters include Binance CEO Changpeng Zhao, Coinbase Cloud’s protocol lead Viktor Bunin, CertiK, Justin Sun, Kraken co-founder Jesse Powell, and Polygon’s founder Sandeep Nailwal.
Changpeng Zhao, in a tweet, expressed Binance’s commitment by pledging $50,000 to the cause, while urging ZachXBT to persevere in his fight and emphasizing the importance of transparency in the industry.
Jesse Powell also expressed gratitude for ZachXBT’s work and pledged a donation of 10 ETH.
Brown Rudnick partner Palley, along with Jess Meyers and the team at Brown Rudnick, expressed their honor in representing ZachXBT’s mission to speak truth to power.
Sandeep Nailwal, founder of Polygon, praised individuals like ZachXBT for their contributions and pledged 5 ETH to support the legal battle.
The lawsuit filed by Huang accuses ZachXBT of damaging his reputation through false allegations made in an article published by ZachXBT approximately a year ago. Huang vehemently denies the allegations and is determined to prove their falsity through the legal proceedings. In a recent tweet, Huang stated that he initially expected an apology and expressed his intention to donate any monetary compensation received to charity.
Huang Licheng（Jeffrey Huang)，known as MachiBigBrother on Twitter, a former American-Taiwanese musician and technology entrepreneur, had been involved in a controversial incident in 2018 when he allegedly misappropriated 22,000 ETH from Formosa Financial. Furthermore, over the past four years following the collapse of Formosa Financial, Huang has been associated with a series of unsuccessful token launches and NFT projects.
In response to the lawsuit, ZachXBT expressed disappointment and asserted that the legal action taken against him is an attempt to stifle free speech. He remains resolute in his commitment to fight back and defend the principles of free expression.
To cover the legal expenses and protect the freedom of speech, ZachXBT has set up a donation wallet address for his followers and the wider community.This legal dispute has garnered significant attention within the industry, with key players showing their support for ZachXBT’s cause. The influx of donations and the rallying behind the principle of free speech highlight the crypto community’s dedication to transparency, accountability, and the pursuit of truth.