Machi Big Brother Bails on Friend.tech After 1,500% Token Surge

Crypto investor Machi Big Brother, whose real name is Jeffrey Huang, made a sudden about-face after bidding $1 million for Friend.tech and sending its token price up over 1,500% in just nine days. In a tweet on September 5, he claimed that venture firm Paradigm was likely blocking his offer and urged co-founder Racer to relaunch the Web3 social app on Robinhood Chain instead.

Huang's original bid on August 27 asked only for Friend.tech's X account and web address. However, it remains unclear what a buyer would own due to the project's smart contracts being given up by the original team in September 2024. The FRIEND token price now sits near $0.0069, down from its peak of $4.89 million during the August rally.

Racer had not responded publicly to Huang's tweet by Saturday afternoon, and his answer will decide whether Friend.tech returns. Robinhood Chain went live on July 1 as an Arbitrum-based layer-2 network and has since surpassed Ethereum in volume on decentralized exchanges.