FRIEND surges nearly 30x after Machi’s $1 million Friend.tech bid

FRIEND rallied nearly 30-fold after Taiwanese trader Jeffrey Huang, known as Machi Big Brother, offered $1 million to co-founder Racer and seed backer Paradigm to acquire stalled Friend.tech and CTO-relaunch the token. CoinGecko data showed gains above 1,600% over 24 hours near $0.06, after a low of $0.0025 and a high near $0.10, with roughly $5.3 million in volume; the token remained more than 98% below its all-time high. Lookonchain also reported that a wallet suspected of being an insider wallet, 0x2078...0929, emerged from six months of dormancy, spent $4,700 on 2 million FRIEND, then sold for 20.25 ETH worth $50,800, producing a profit of 18.37 ETH, or $46,000, and a return of nearly 10 times. Huang had previously lost more than $16 million on FRIEND, and neither Racer nor Paradigm had publicly accepted the unconfirmed bid.

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