Machi Big Brother proposes $1M takeover of Friends.Tech, triggering a 1,600% surge in FRIEND token price amid high trading volume.
Ecosystem ·
Machi Big Brother has proposed a $1 million acquisition of Friends.Tech, with the aim of relaunching the FRIEND token. The proposal triggered a sharp market response, as FRIEND's price rose 1,600% in 24 hours and trading volume surged nearly 95,000% during the same period.
The token remains significantly depressed relative to its historical peak, trading over 98% below its all-time high at the time of the buyout announcement. Machi's entry into FRIEND carries a substantial loss: the entity previously spent approximately $16.7 million to acquire 11 million tokens, which had depreciated to roughly $500,000 in value before the takeover proposal.
The restructuring plan and accompanying price movement reflect a market bet on revival prospects for the token, though the proposal's execution status and timeline for any relaunched version remain unclear. Machi's willingness to commit new capital despite its prior losses signals confidence in a turnaround, but the long-term viability of the relaunch depends on factors not yet detailed.