TechFlow reports, on September 9, on-chain data showed that renowned artist and investor Machi Big Brother (Jeffrey Huang) currently holds 11.1 million FRIEND tokens. According to Lookonchain, from May 3, 2024, to June 8, 2024, Huang invested a total of 4,975 ETH (approximately $15.6 million) to purchase 8.6 million FRIEND tokens at an average price of $1.81.
Since then, Huang has continued to accumulate small amounts of FRIEND and provided liquidity for its trading pairs, increasing his holdings to the current 11.1 million. However, the FRIEND token price has sharply declined, quoting at $0.06668 at the time of writing. Based solely on the 8.6 million FRIEND holdings as of June 8, his initial $15.6 million investment is now worth approximately $570,000, reflecting an unrealized loss of at least $15 million.
