FRIEND token surged 2,800% in one hour after Jeffrey Huang, the Taiwanese entrepreneur known as Machi Big Brother, offered $1 million to buy friend.tech from co-founder Racer and venture firm Paradigm. The SocialFi app, which generated $64.31 million in fees since its August 2023 launch, was abandoned by developers who transferred ownership to Ethereum’s null address in September 2024. The bonding curve reserve still holds 924.93 ETH (approximately $2.33 million), more than double Huang’s offer, while the token now trades around $0.026, down 99.2% from its all-time high. Huang wants the X account and URL to relaunch the project via a CTO (community takeover). Neither Racer nor Paradigm had responded publicly.
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