Odaily Planet Daily reports that Huang Licheng (@machibigbrother) previously spent approximately 5,200 ETH, worth $16.7 million, to purchase 11 million FRIEND tokens, which are now worth only $500,000, resulting in a loss of over $16 million. Huang Licheng today offered $1 million to acquire Friend.tech and plans to relaunch it. On-chain data shows that five days ago, Huang Licheng transferred 11 million FRIEND tokens to wallet 0x3205 and subsequently bought an additional 124,873 FRIEND tokens worth $5,700.
Huang Licheng's FRIEND holding loss exceeds $16M; plans to acquire Friend.tech for $1M
KuCoinFlashShare
Summary
On-chain data reveals that Huang Licheng’s FRIEND holdings have lost over $16 million in value. He initially spent 5,200 ETH ($16.7 million) to acquire 11 million FRIEND tokens, which are now worth just $500,000. Recent on-chain activity shows he transferred 11 million tokens to wallet 0x3205 and purchased an additional 124,873 tokens for $5,700. Huang plans to acquire Friend.tech for $1 million and relaunch the project. Token inflation remains a key factor for market observers.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.