CandleFocus The Project That Once Dominated the Cryptocurrency World Has Been Shut Down: Investor Revolts After Losing $15 Million in Altcoin
2024-09-09
Author: Content Editor
The once promising Web3 social network, Friend.Tech, has effectively shut down after its development team gave up control over its smart contracts, leaving the platform in limbo and preventing new teams from taking over. This decision came after a period of stagnant growth for Friend.Tech and the team raised $52.4 million through the protocol. Jeffrey Huang, a leading figure in the crypto world, reportedly lost at least $15 million by purchasing the platform's altcoin, FRIEND. Friend.Tech launched on the Coinbase-backed Layer 2 network Base and gained popularity quickly but has now faced a downfall.
Related News
Is the Ethereum Foundation Selling Again? New Here’s the New Onchain Data Why Telegram’s Tap-to-Earn Games Are the Future of Web3, According to Investors Ethereum Name Service price prediction 2024-2030: Is ENS a good investment? Bitcoin’s Recovery Has Begun – But Is There a Known Reason? What are the Latest Data? Here are the Details Give Me Time These 4 Charts Explain Bitcoin (BTC) Price Performance Amid US Rate Cut Speculation Bitcoin traders celebrate ‘good news’ as BTC price trades above $56K Top NFT Projects By Social Activity: Phoenix Momentum Builds for Shiba Inu: Is the $0.000014 Resistance Next? Bitcoin’s Path to $59k: Will $BTC Break Through $56.3k Resistance Soon? The Project That Once Dominated the Cryptocurrency World Has Been Shut Down: Investor Revolts After Losing $15 Million in Altcoin XRP Reserve Drop on Binance, Bullish Signal or Red Flag? Bitcoin Price Reversal Begins, Will BTC Break $58 Hurdles? Top 10 Ethereum cloud mining platforms in 2024 Japan-based Metaplanet Eyes Further Increasing Bitcoin Holdings Why the US BTC reserve plan could be years from becoming reality FTM, AAVE, TAO see double-digit gains as Bitcoin retests $57k An Investor's Guide to MetaMask Portfolio US, Canadian investors to get full compensation in GSB Group settlement Bitcoin Retakes $57K, but Potential Positive Catalysts Are 'Sparse,' Says NYDIG Orbitt Teams up With Solana's Pump.Fun for Volume Boosts Crypto fundraising is seeing ‘signs of recovery:’ PitchBook Tonstakers Unveils Liquidity Rewards in tsTON with Support from TON Foundation Scam Alert: Fake Dogecoin Stream Takes Over YouTube Ahead of Apple's iPhone 16 Launch The Role of Digital Assets in Investment Portfolios Americans lost over $5.6b in crypto scams in 2023, FBI says TON hits record transaction highs post-Durov arrest while token price plummets 30% IOTA x Tenity RWA Accelerator Demo Day: Discover the Future of Finance with 6 Trailblazing Projects Compass Mining Energizes 3,000 Bitcoin Mining Rigs at Iowa Facility Bloomberg Analyst Explained: “Bitcoin Is Experiencing An Unprecedented Situation” End of an era: The Friend.Tech team relinquished smart contract management Crypto Today: Bitcoin hashrate hits all-time high as BTC, Ether and XRP hover near support Crypto Analyst Predicts Dogecoin Will Rise 3,600% To $3.7, Here’s When DWF Labs Partners with DMCC and Bybit for Web3 Unleashed Hackathon Should You Invest in Tron (TRX)? Charts, Stats, Analysis for 2024 Bitcoin rebounds from $54,000 support. Is it out of the woods yet? Wealth advisers adopting BTC ETFs faster than any in history: Bitwise CIO Polymarket betters see a 13% chance Trump will mention 'crypto' at the second presidential debate 3 Obstacles That Could Prevent Cardano (ADA) Price from Hitting $0.40 Crypto Strategist Says Seller Exhaustion in Sight for Bitcoin, Predicts Subsequent Price Rebound for BTC UK Parliament could summon Elon Musk over X operations Bitcoin price shows strength above its recent lows — Here is why Bitcoin (BTC) Miners Reduce Holdings, Brace for Potential Price Drop TRON Rises Again But Faces The $0.155 Barrier Bitfarms delays special shareholders meeting to review Riot’s amended requisition Leaked Chainalysis video suggests Monero transactions may be traceable Cardano Reveals Impressive Growth in Monthly Report: Details Pantera, ParaFi and others buy FTX's Metaplex tokens Crypto Super PAC pours $660K into Senate race as US election closes in Apple Intelligence rival secures $10M to develop open-source alternative This Is How Solana’s Pump.fun Plans to Challenge Tron’s SunPump Kalshi's U.S. Election Markets Delayed Until Friday at Earliest Could Toncoin tank another 30% in September? Starknet is ditching off-chain polling, and it will make tokens count Liminal Says Grant Thornton Confirms Its Security Amid Wazirx Breach Concerns Onramper launches crypto off-ramp service with MoonPay, Alchemy Pay and others Ether poised for price breakout after summer slump in crypto markets Ripple (XRP) Supply on Exchanges Drops to Seven-Month Low, Price Fails to React Bitcoin Short-Term Holders Feeling the Stress As Correction Brings Positions Underwater: Glassnode Healthcare projects are leading the pack in decentralized science Did a Polymarket trader rig election odds for a side bet? US states reach $1b crypto fraud settlement, owner promises refunds Bitcoin to reach $13m in 21 years, Michael Saylor predicts Whale Accumulates 5,000 ETH Worth $11.46M at Market Low Alchemy Pay brings crypto payments to Telegram via TON network 40,000 $ETH Withdrawn from Derivative Exchanges, Signaling Reduced Selling Pressure Dormant Bitcoin Wallet Reactivated With Massive 9,985% Profit and Millions of USD US wants access to Binance exec in Nigeria over health concerns, report Bitcoin Rollups - The Rock Or The Hard Place? Shiba Inu Inflows Skyrocket 164% as SHIB Preps for Major Rally Solana ETF Hopes Fade as SOL Price Stumbles Neo News: Week in Review – September 2 – September 8 Senator Schumer Leaves Crypto Out of Lawmaker Letter After Vowing to Push Regulation These Are Top Crypto Stocks to Watch During Bitcoin’s Recovery BTC, ETH and XRP Prediction for September 9 Coinbase Must Face Shareholder Lawsuit Over Regulator Risk Concerns, Judge Rules What Awaits Toncoin (TON), Which Experienced a Huge Drop? Experienced Analyst Reveals Expected Price Levels! SEC crypto fines spiked 3,018% in one year Bitboy Boldly Predicts Bitcoin Cycle Top at $146,641 Despite Ongoing Turbulence Terra Luna Classic To Burn 1 Billion USTC & 275 Billion LUNC? Cardano Price in Limbo as Mysterious Address Transfers Millions in ADA Harris campaign criticized for ignoring crypto in policy statement Michael Saylor Says Republicans Have More 'Progressive’ View on Crypto, Democrats ‘Drifting to the Middle’ Bitcoin ETFs Slip to $46B, Sparking Debate on TradFi Adoption Hopes Watch Out This Week in Bitcoin! These Two Critical Events Could Affect the Price! Ethereum Dips to $2.2K Zone for the First Time Since January AVAX Gains Momentum: A Rally Toward $32 in Sight? BBVA’s Swiss Branch Offers USDC to Institutional Clients Kamala Harris Will 'Win' First Debate With Trump, Polymarket Traders Are Betting Elon Musk Stuns Dogecoin Community With Epic DOGE Post Ethereum Price Eyes Recovery as 40k ETH Exits Exchanges Ahead of Fed Rate Cut Altcoins on the Brink of an Explosive 2017-Style Bull Run? Bitcoin Technical Analysis: Path to $58K Blocked by Heavy Resistance at $56,000 Ethereum Technical Analysis: ETH Faces Pivotal Resistance Sonic pioneers wallet credit scores with no KYC requirements amid reaching 720ms finality Graph Foundation Director: BTC Rally Fails to Rekindle Investor Interest in Crypto Startups Toncoin (TON) Price Prediction: Major Bull Run Ahead? Dogecoin (DOGE) Large Holders Scoop 708 Million Coins, Target Double-Digit Gains Neiro on Ethereum Becomes Top 25 Meme Coin After Binance, Crypto.com, OKX Listings Exploring the Latest Pre-Market Prices of Hamster Kombat (HMSTR) A new cycle could boost sentiment and price action Montenegro’s PM likely lied about Do Kwon meeting after Luna buy Forget About Bitcoin ETFs, Buy This Stock Instead Shiba Inu Nears Major 2 Trillion SHIB Milestone: What's Going On? Restaking Protocol Ether.fi Selects Scroll as Layer-2 Network for Settlement XRP on Verge of Huge Surge As Bollinger Bands Keep Squeezing Month after Month: Expert Ether.Fi to Launch Visa 'Cash' Card on Scroll Network Patience is Essential as Expert Cites Shiba Inu Life-Changing Gains QNT Price Surges After Regulator Gives Green Light to Staking Proof of Workforce and Careers In Government Partner to Integrate Bitcoin into Public Sector Jobs Ripple CTO Issues Crucial Crypto Scam Alert to Community The latest forecasts on the price of Bitcoin in USD MakerDAO wants to be compliant rather than centralized Scam Alert: Hackers Burn Tokens In Wallets, Here's How to Avoid It Here’s What Could Happen in December 2024 for Ethereum (ETH), According to Analyst Benjamin Cowen Thousands of Bitcoin Leave Binance in Mysterious Bull Whale Activity Australian Bitcoin ETF to Implement Proof of Reserves with Hoseki Altcoin Skyrockets 30% Upon Binance Listing Announcement Cardano Rises As It Has Reached The Oversold Region Binance Released Its New Reserve Report! Which Altcoins Are Available? Here's the Amount of Bitcoin (BTC) and Altcoins in Hand! Solana Skyrockets in Inflows as Bitcoin Bleeds With $643 Million Outflows As Dogecoin Approaches $0.10, Wedge Pattern Breakout Targets $0.14419 Sahm Rule indicates US recession remains likely but crypto may be set for bullish reversal Ethereum (ETH) Whales Quiet Since July: September Comeback in Focus LUNC’s Risk-Reward Ratio: Should Investors Take a Chance? Can Shiba Inu Price Hit $1 After Roaring Kitty's Comeback? A 0.50% Fed Rate Cut Could Raise Alarm for Bitcoin, 10X Research Warns Gala Announces More Than 3 Million Users in Its Telegram Gaming Ecosystem Ahead of $TREZ Token Launch Gaming blockchains dominate the industry, and their number will grow | Opinion XRP Ledger Market Cap Reaches Record Low, Could it be a Good Thing? 100 Million XRP in 24 Hours — Here's What's Happening FET’s Support Holds Strong Signaling Bullish Rally, Is a $2 Surge Coming? 3 Heavily-Funded Crypto Startups Tease Airdrop: Everything You Need to Know Ripple Price Analysis: XRP Needs to Stay Above This Key Level to Avoid Further Declines Binance Futures Announces Listing of This Altcoin with 75x Leverage! Elon Musk Responds to Horror Legend Stephen King’s Critique After Important Development Ethereum Price Today : How Recent Wallet Activity Could Influence ETH Price Reasons Why XRP Price May Never See Sudden Spike Kamala Harris publishes policy statement, fails to mention crypto BCB Group's Chief Compliance Officer to Exit in Latest Senior Management Departure Apple AI Push With iPhone 16 Launch Can Revive AI Coin Rally Next Week Chainlink Price Recovery: Is There Potential for a Climb to $20? XRP Lawsuit News: SEC’s Surprising Decision Leaves Ripple Unshaken Chainlink (LINK) Price Prediction: Key Indicators Hints at $12 Rebound Bitcoin Climbs 2% While Analysts Remain Wary of US Inflation Report $150 Million in Bitcoin (BTC) in 7 Days: What's Happening? Fantom (FTM) Price Plots Path To $1 As Sonic Testnet Goes Live Bitcoin Price Analysis: Will BTC Bounce Back After This Shocking Drop? Looking at Recent Bitcoin Volatility, Implications for Investors Cardano Targets $0.40 Amid Rising Network Activity and Double Bottom Reversal Meme Coins are for Everyone (Almost) Analyst Forecasts Major Cardano Surge, Breaks Down Factors Behind Prediction Bitcoin Whales Accelerate $BTC Accumulation Amid Market Downturn Magic Square Inks Partnership With Exodus for Passkeys Integration HTX to remove multiple trading pairs with Justin Sun’s USDD stablecoin Binance subsidiary Tokocrypto secures major license in Indonesia Fears of Recession Abound, Why This Bitcoin Price Recovery Could Be A Bull Trap WazirX Hacker Moves $11M Stolen Ether to Tornado Cash Hybrid crypto exchange GRVT receives $3.3 billion monthly volume commitment Binance Backs Enjin Coin Upgrade Bitcoin Exchange OKX Shares New Altcoin Listing Announcement! QNT Price rallies following regulatory green light for staking AlpacaMoney and NULS Collaborate to Improve Multi-Chain Asset Interoperability Crypto trading expert predicts DOGE bullish run to this price Expert says XRP Won’t Just Experience a Bull Run, But a Perpetual Growth Cycle Shiba Inu Price Outlook: SHIB Eyes 15% Surge if Bulls Maintain Momentum BTC’s Recovery Continues With a Rise Above $55K, TON Shoots Up 7% Daily (Market Watch) Top Investor Says Very Bullish on Shiba Inu Despite Dips Snapshot X launches to enable gas-free onchain voting via Starknet Binance Coin (BNB) Weekend Rally May Be Misleading, Here is Why ? Bitcoin Could Hit $90K by Year End if Trump Becomes President Again: Bernstein Pepe Coin Price Just Flashed a 25% Buy Signal, Is It Time to Long PEPE? 'Rich Dad Poor Dad' Author Shares Big 'Money Lesson' from His Popular Book Analysis of the crypto Litecoin, Avalanche and Solana ETH Price Impact as Buterin and Foundation Offload Holdings Crypto.com surpasses Coinbase in August and becomes the leading crypto-exchange Shiba Inu (SHIB) Hits Extreme Levels: What's Happening? Ethereum (ETH) Wind Blows in the Markets! Giant Corporate Whale Sold, Bottom Whale Started Buying Again! Trust Wallet Growth Surges Rapidly in Africa and South Asia Nigeria’s SEC to crack down on unregulated crypto exchanges Solana Crushes Cardano in Key Metric Bitcoin Bottom In? BTC Order Book Liquidity Says Yes XRP Set to Surge 692%, Latest Technical Analysis Predicts Rise to $4.20 Multicoin Capital’s Samani Calls for Improved Standards to Address Ethereum’s Layer 2 Problems Crypto Crackdown Down Under: ASIC’s Pyrrhic Victory against Kraken Crypto excluded from Schumer’s legislative priorities after assurances Expert says Do Not Be Fooled, Every Dip is Preparing You for the Next Big Rise BTT surges over 16% amid Tron’s milestone VeChain News: VET Now Accepted at 100M+ Retailers Worldwide via Oobit on iOS Analysts Say Bitcoin Remains Cheap, Investors Await US Election Results! Here Are the Details Ethereum Hits 4-Month High in Network Growth with 126,210 New Wallets Created on Typically Quiet Sunday Why Did a MultiSig Wallet Liquidate 3.8K ETH From Vitalik? Moxy and SKALE Protocol Partner to Offer Gasless Gaming Experience Bitcoin ETFs record combined $1.2B in outflows in 8 days Crypto Whales Continue to Buy the Dip, Scooping Up $227 Million in Bitcoin Swiss branch of BBVA bank brings USDC for institutional clients Here’s How High Shiba Inu Could Go if BTC Market Cap Hits VanEck’s Projection of $61T Crypto’s SocialFi Dream Crumbles: Farcaster, Lens, and Friend.Tech Become Ghost Towns Bitcoin Must Reclaim This Level or $48,000 Looms Dogecoin (DOGE) Bulls Aim to Clear $0.10: Will It Happen? Ethereum network explodes to 4-month high QNT Coin Analysis Shows 12% Price Surge with Rising Open Interest $DAR, $SERO, $ROUTE Lead Daily Top Gainers with Over 30% Gains XRP Price Holds Ground at $0.50: Can Bulls Push for a Comeback? Moscow Exchange Opts out of Russia's Crypto Trading Program Top Crypto Gainers And Losers Today Bitcoin, ether remain subdued as markets process underwhelming US economic data Unisat-backed Fractal Bitcoin goes live on mainnet, taps into BTC core code for scaling solution Is crypto entering a bear market? — 5 Things to know in Bitcoin this week ‘Big sybil hunt’ and durable users helped LayerZero airdrop succeed, says CEO 3 Signs Why Luna Classic Cannot Reach $0.01 Bull Market Still Intact, Analysts and Traders Unfazed by the Bitcoin Price Dip Crypto News Today : Chainlink Set to Explode, What’s Driving LINK Price Up? Bitcoin ETFs need time to be ‘instrument of adoption’ — Bianco Research CEO Crypto Exchange Woo X Introduces Copy Trading, With a Twist U.S. Election Betting Delay Would Be 'Devastating' to Kalshi, Firm Says Trader Predicts Healthy Rise for Bitcoin, Says BTC Flashing Multiple Signs of Potential Bottom Formation Crypto firm’s CEO resigns after being robbed of company funds at gunpoint Crypto Strategist Issues Ethereum Warning, Says Nearly 70% Collapse Is His Base-Case Outlook for ETH Crypto platform Friend.tech sees token dive 26% following admin transfer Martin Shkreli’s claim he forfeited all copies of Wu-Tang album ‘dubious,’ says PleasrDAO Bitcoin 'Grossly Undervalued' at Current Prices, Traders Say Ahead of CPI, Trump-Harris Debate Week Boldly Go Where Tokenized RWAs Are Meant To Be - On Public Blockchains Block Inc. overtakes Coinbase in market capitalization as Barclays revises price target Crypto Expert Doctor Profit Analyzes Bitcoin Stability and Breakout Potential Solana Poised for a Potential 56% Surge Amidst Market Uncertainty Mansa Partners With Nigerian Blockchain Platform Bitmama to Boost Cross-Border Payments BlackRock Stands Out as Single Ethereum Buyer in ETF Landscape Asset Tokenization Could Awaken A Coming-Of-Age For Investors XRP Price Risks Crash to $0.45 As Chris Larsen Endorses Kamala Harris Early Ethereum adviser sues law firm for $100M over crypto extortion case defense Bitcoin Price Rebounds, But Could the Downtrend Return? Ethereum Price Recovery May Stall Near 100-SMA: Is a Drop Coming? XRP Enters Enormous Uptrend, Toncoin (TON) on Verge of $6 Recovery? This Ethereum (ETH) Move is Paramount Dogecoin Price to Hit 160-Day Barrier After Elon Musk’s Tweet: Bull Trap or Rally?