{"id":137021,"date":"2024-09-10T10:00:07","date_gmt":"2024-09-10T07:00:07","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137021"},"modified":"2024-09-10T00:16:32","modified_gmt":"2024-09-09T21:16:32","slug":"influencer-loses-16-million-in-crypto-investment-as-token-value-plummets","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/influencer-loses-16-million-in-crypto-investment-as-token-value-plummets\/","title":{"rendered":"Influencer Loses $16 Million in Crypto Investment as Token Value Plummets"},"content":{"rendered":"<p>The <strong><a href=\"https:\/\/x.com\/lookonchain\/status\/1832985691640209764\" target=\"_blank\" rel=\"nofollow\">report<\/a><\/strong> details a $16 million loss stemming from his investment in Friend.Tech (FRIEND).<\/p>\n<p>Machi Big Brother invested approximately 5,200 <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">ETH<\/a><\/strong>, equivalent to $16.7 million, to acquire 11.1 million FRIEND tokens. However, due to a severe sell-off, the value of this investment has dwindled to just $0.7 million.<\/p>\n<p>This is not Machi Big Brother\u2019s first significant loss with FRIEND. Reports from June indicated that his investment, which began in May, resulted in a $7.9 million loss after spending $15.6 million.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/crypto-exchange-okx-adds-support-for-three-new-memecoins\/\" title=\"Crypto Exchange OKX Adds Support for Three New Memecoins\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/06\/okx-exchange-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Crypto Exchange OKX Adds Support for Three New Memecoins<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The decline in FRIEND\u2019s value follows the Friend.Tech team\u2019s recent decision to relinquish control over its smart contracts. On September 8, the management transferred control to an Ethereum null address, signaling a halt in the platform\u2019s ability to perform updates or fix issues.<\/p>\n<p>This move effectively suggests that the platform, which was designed for trading shares of social media profiles, will not see further development or improvement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent report from Lookonchain, shared on September 9, highlights that influencer Machi Big Brother has faced severe financial setbacks.<\/p>\n","protected":false},"author":3,"featured_media":29546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22],"tags":[],"class_list":["post-137021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO 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