Machi Big Brother Cancels $1M Friend.tech Bid

Crypto investor Jeffrey Huang, known as Machi Big Brother, has officially canceled his $1 million bid to buy Friend.tech. Huang originally made the offer on August 27, asking for the project social media account and web address. That initial news sent the token skyrocketing by over 1,500 percent, catching the attention of traders across the market.

Huang now claims that venture firm Paradigm blocked the deal, though he provided no direct proof for the accusation. Following the canceled buyout, Huang urged co founder Racer to relaunch the social application on the Robinhood Chain instead, promising his full backing if the move happens. The Friend.tech team previously handed over smart contract control in late 2024, leaving the exact ownership value unclear.

The token price has cooled down significantly from its recent highs, currently trading around fractions of a cent. Even with the canceled deal and falling prices, the token still holds some gains from its summer rally. Traders are now watching to see if Racer responds to the Robinhood Chain suggestion or if the social platform stays dormant for good.