Friend Token Surges After Machi Big Brother Offers $1 Million for Friend.tech

$1 Million Offer Ignites Token Rally

The price of the Friend token rose sharply after Jeffrey Huang, known as Machi Big Brother, announced a $1 million offer to buy the social app friend.tech. The token surged 28 times in value within an hour of the announcement.

Huang stated he wants to acquire the X (formerly Twitter) account and the website domain. He clarified that the technical side of the app is already decentralized and cannot be changed. Specifically, the trading contracts were transferred to Ethereum’s null address in September 2024. This means no single owner can redirect fees or alter the code.

Token Price Spikes Before Settling

Before the news broke, the FRIEND token traded at $0.0031, with a market cap of about $297,000. By 1 a.m. ET, the price hit $0.0878. A market cap measures the total value of all circulating tokens.

By the morning of Thursday, the price had cooled to roughly $0.0219. Despite the pullback, CoinGecko reported a 24-hour gain of 947%. However, the token remains down 99.2% from its peak price of $3.26 on its first day of trading.

What the Offer Covers

• Price: Huang is offering $1 million USD.
• Targets: The X account handle and the friend.tech URL.
• Not included: The smart contracts, which belong to the null address.
• Previous reserve: The contract holds about $2.33 million in ETH, which backs the keys users hold.

Declining Platform Activity

Friend.tech launched in August 2023 and gained popularity by letting users buy "keys" to chat privately with creators. It once generated millions in fees daily. Today, activity is minimal. In August 2025, daily fees fell to just 12 cents.

Total fees collected over the app's lifetime reached $64.31 million, but those funds have not gone to the original dev team since the contract transfer. The X account has not posted since September 2025.

No Response Yet

As of Thursday morning, neither co-founder Racer nor the venture firm Paradigm had publicly responded to the offer. Huang emphasized that this would be a community takeover, saying, "Community effort. We do it together."

What Is Confirmed

The contract for trading keys is owned by the null address, meaning the code is immutable. Huang’s offer is limited to branding assets (the social media account and domain). The $2.33 million in ETH reserves remains in the contract, accessible to key holders.

Why This Matters

This event highlights the transition of abandoned crypto projects into community-led endeavors. Even with no official development, the token saw massive speculative interest when a high-profile buyer entered the space.

Sources

• The Defiant