Machi Big Brother's $1M Friend.tech Bid Ends with a Bang and No Proof
Taiwanese-American crypto trader Jeffrey Huang, known online as Machi Big Brother, made headlines on August 27 when he offered $1 million to buy the defunct social app Friend.tech's X account and web address.
The move sparked a rapid increase in the token's price, with FRIEND jumping over 1,500% in a day, causing its market value to rise from less than $300,000 to over $4.9 million.
Huang walked away from the bid nine days later, but not before blaming Paradigm for blocking his offer, despite offering no evidence to support this claim.
An investigation revealed that Huang had previously purchased 11 million FRIEND tokens for roughly 5,200 ETH and lost over $16 million on the position. This raises questions about Huang's motivations behind the bid and whether he was trying to prop up the token's price.