Machi Big Brother Sent FRIEND Up 1,500%. Then Ditched $1M Deal
Crypto investor Machi Big Brother has pulled his $1 million bid for Friend.tech and named enterprise agency Paradigm because the seemingly impediment.
Instead, he urged co-founder Racer to relaunch the Web3 social app on Robinhood Chain. The reversal comes 9 days after his authentic provide, sending FRIEND up greater than 1,500%.
Machi Big Brother Friend.tech Bid Collapses After 9 Days
Machi Big Brother, whose actual title is Jeffrey Huang, opened the bid on Aug. 27. His $1 million buyout offer requested just for the undertaking’s X account and net tackle.
Friend.tech launched on Base in 2023, permitting customers to commerce shares with one another. Paradigm led a seed spherical into the startup that very same yr.
However, Huang supplied no proof and framed the declare as a guess. He additionally has a historical past right here. He purchased 11 million FRIEND for roughly 5,200 ETH, and the place later shed over $16 million.
The authentic workforce gave up management of the good contracts in September 2024. Therefore, it stays unclear what a purchaser would personal.
The FRIEND token price now sits close to $0.0069, up roughly 5% previously 24 hours. Its market worth of about $659,000 trails the $4.89 million peak from the August rally. Over 90 days, nonetheless, the token nonetheless holds a 382% acquire.
Robinhood Chain Emerges as Racer’s Next Option
Huang closed his submit with a pivot. He advised Racer to rebuild the app on Robinhood Chain and promised his backing.
Robinhood Chain went reside on July 1 as an Arbitrum-based layer-2 community. Since then, it has surpassed Ethereum in volume on decentralized exchanges and absorbed heavy meme-coin flows.
Meanwhile, that blend worries some analysts. Jon Ma of Artemis warned that the meme coin boom risk might undercut Robinhood’s tokenized-stock ambitions.
FRIEND held its 24-hour acquire regardless of the withdrawal. Racer had not responded publicly by Saturday afternoon, and his reply will resolve whether or not Friend.tech returns.
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