Crypto investor Machi Big Brother has pulled his $1 million bid for Friend.tech and named venture firm Paradigm as the likely obstacle.
Instead, he urged co-founder Racer to relaunch the Web3 social app on Robinhood Chain. The reversal comes nine days after his original offer, sending FRIEND up more than 1,500%.
FRIEND Token Price Chart. Source: CoinGeckoMachi Big Brother Friend.tech Bid Collapses After 9 Days
Machi Big Brother, whose real name is Jeffrey Huang, opened the bid on Aug. 27. His $1 million buyout offer asked only for the projects X account and web address.
Friend.tech launched on Base in 2023, allowing users to trade shares with each other. Paradigm led a seed round into the startup that same year.
However, Huang offered no evidence and framed the claim as a guess. He also has a history here. He bought 11 million FRIEND for roughly 5,200 ETH, and the position later shed over $16 million.
The original team gave up control of the smart contracts in September 2024. Therefore, it remains unclear what a buyer would own.
The FRIEND token price now sits near $0.0069, up roughly 5% in the past 24 hours. Its market value of about $659,000 trails the $4.89 million peak from the August rally. Over 90 days, however, the token still holds a 382% gain.
Robinhood Chain Emerges as Racers Next Option
Huang closed his post with a pivot. He told Racer to rebuild the app on Robinhood Chain and promised his backing.
Im guessing my offer is being blocked by Paradigm. I rescind my offer. Racer relaunch Friendtech on Robinhood chain, I will support.
— Machi Big Brother (@machibigbrother) September 5, 2026
Robinhood Chain went live on July 1 as an Arbitrum-based layer-2 network. Since then, it has surpassed Ethereum in volume on decentralized exchanges and absorbed heavy meme-coin flows.
Meanwhile, that mix worries some analysts. Jon Ma of Artemis warned that the meme coin boom risk could undercut Robinhoods tokenized-stock ambitions.
FRIEND held its 24-hour gain despite the withdrawal. Racer had not responded publicly by Saturday afternoon, and his answer will decide whether Friend.tech returns.