This big shot, known in the industry for high leverage, might have really taken a fall this time.

Recent rumors indicate that a company under Jeffrey Huang (Huang Licheng) has undergone a round of layoffs. The severance package for laid-off employees is quite unique—five months’ salary plus a MAYC zombie ape NFT. Based on current prices, that ape NFT is worth about $2,500, so each person’s severance comes out to around $30,000.

That said, the market rebound that started yesterday has been pretty timely. Ethereum took the lead in recovering, which has helped ease some of the pressure on his heavy positions. Still, it’s unclear whether he can really pull through this time, since those liquidation rumors weren’t baseless.

In this market, no matter how big you are, you have to bow to extreme conditions. Now, it all depends on whether the subsequent trend can give him more breathing room.