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3 YEAR
3 YEAR OF SERVICE
What happened: Jeffrey Huang, the Taiwanese-American trader known online as Machi Big Brother, publicly floated a $1m offer to buy the dormant SocialFi app friend.tech from pseudonymous co-founder Racer and early backer Paradigm, and relaunch it as a community takeover using the existing Base contract. The old $FRIEND token, untouched for most of two years, went vertical on the post.
The numbers as of now: +390% on the day, $1.95m in 24h volume, $1.47m market cap, $112k liquidity, 2,909 buys against 2,078 sells across 83,638 holders. Balanced two-way flow, and the sell count says people who wanted out have been getting out.
What is not confirmed: everything on the other side of the deal. No acceptance from Racer, nothing from Paradigm, no relaunch announced. This is one man's post, not a signed transaction. Note also the pool is roughly 20,000 hours old — this is the original 2024 token, not a fresh launch riding the headline, though check the contract before assuming any $FRIEND you see is that one.
The obvious conflict: Huang has said he is already a large $FRIEND holder sitting on losses. A bid that lifts the token he owns is not a disinterested bid, and he has not hidden that.
Reporting on a bid, not a deal. If Racer says nothing for a week, what happens to the price?
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