TAIPEI (Taiwan News) — Hip-hop artist Jeffrey Huang (黃立成) suffered a major loss this week due to dramatic fluctuations in the cryptocurrency markets.

Huang, the leader of the Taiwanese hip-hop collective Machi, gained attention earlier in the week for making a profit of NT$190 million (US$6.5 million) in a 24-hour period. However, his success was completely undone early Friday morning when his holdings in the Ethereum cryptocurrency were liquidated, resulting in a loss of NT$1.6 billion (US$54.5 million), reported SETN.

Huang, known as “ Big Brother,” is a vocal supporter of cryptocurrency. He was reportedly taking a long position on Etherium to make up for previous losses, when the value of the crypto coin plummeted on Thursday evening.

On Friday morning, Huang was left with NT$10 million (US$328,000) in his trading account, with accumulated losses of NT$399 million (US$13 million). Reports suggest that market volatility caused by the ongoing US-China trade war is causing dramatic fluctuations in cryptocurrency markets, per ET Today. 

As his loss was being widely reported, Huang shared a photo of himself in a swimming pool on Instagram with the message “California Love.” He later made several comments expressing continued support for cryptocurrency markets.