On August 27, Machi Big Brother proposed to acquire Friends.Tech for $1 million from Racer and Paradigm, with plans to relaunch the FRIEND token. The token surged over 1,600% in 24 hours, jumping from $0.0025 to around $0.06, with trading volume reaching $5.3 million, representing a 94,831% increase. This proposal comes as Machi had previously invested approximately $16.7 million in ETH to purchase 11 million FRIEND tokens, now worth only $500,000, resulting in losses exceeding $16 million. Despite this rally, the token remains down more than 98% from its all-time high.
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