Huang Licheng, known as 'Machi Big Brother,' tweeted that his acquisition of friend.tech was blocked by Paradigm, and he has withdrawn the acquisition plan. He also stated that he would support Racer if friend.tech is relaunched on Robinhood Chain.
GMGN market data showed that Friend, a token tied to the Friend.tech ecosystem, briefly climbed past a $6 million market capitalization, with its intraday gain exceeding 17x. Earlier, Taiwanese-American entrepreneur Jeffrey Huang, widely known in the crypto market as MachiBigBrother, said that when Friend.tech’s market value was still below $300,000, he had already made a $1 million acquisition offer to founder Racer and venture firm Paradigm. Huang also said he intended to relaunch Friend.tech through a community takeover in the form of a CTO initiative. With Friend’s sharp price increase, the unrealized profit on Huang’s related holdings is now about $730,000, according to the figures cited in the report. The move puts renewed attention on Friend.tech and the trading activity surrounding its ecosystem token.
Jeff Huang, also known as Machi Big Brother, said he has made a $1 million acquisition offer for Friend.tech as the project’s market capitalization fell below $300,000. According to Huang, the offer was submitted to Friend.tech founder Racer and venture firm Paradigm. He said that if the deal is completed, the project could be restarted through a community takeover in CTO form. Following his public remarks, Friend.tech’s market capitalization rebounded to more than $2.2 million. The statement outlines both the proposed purchase price and a possible path for reviving the social platform, while also triggering a sharp move in its market value.
Machi Big Brother, also known as Huang Licheng, said Friend.tech’s market capitalization has fallen below $300,000 and that he has submitted a $1 million acquisition offer to Friend.tech founder Racer and Paradigm. He said that if the deal goes through, Friend.tech could be restarted through a community takeover CTO approach. Following his statement, Friend.tech’s market capitalization rebounded and moved back above $2.2 million. The update was reported by ChainCatcher as a 7x24 newsflash.
