Machi’s FRIEND Position Drops to $500,000: Offers $1 Million to Buy Friend.tech

Lookonchain reported that Machi Big Brother, who spent $16.7 million for 11 million FRIEND, is left with tokens worth approximately $500,000 and subsequently offered to buy Friend.tech for $1 million.

Machi spent approximately 5,200 ETH to acquire the FRIEND token associated with Friend.tech. The current value of this investment appears to be only around $500,000. Thus, the difference between the purchase cost and the current value has exceeded $16 million.

However, this figure does not imply a realized loss from selling the tokens. The calculation is based on comparing the current value of the holdings to the purchase cost. On August 27, Machi offered to buy Friend.tech for $1 million and relaunch it. There is no information indicating that the acquisition has been completed.

New activity in Machi’s FRIEND wallet

According to on-chain records, five days before the offer, Machi sent 11 million FRIEND to another wallet starting with 0x3205. Arkham data showed the value of this transfer at approximately $37,000 at the time of the transaction.

During the same period, a new purchase was also observed in the wallet. It was reported that Machi spent approximately $5.7 thousand for 124,873 FRIEND. This transaction does not indicate that the previous loss in value has been recovered. The data only reveals the token transfer and the new purchase.