Ramazan Eles 
Musician and tech entrepreneur Jeffrey Huang has shifted his altcoin strategy after incurring millions of dollars in losses.
According to blockchain analytics platform Lookonchain, Jeffrey Huang has stopped investing in the FRIEND token of the decentralized social media platform Friend.tech. Better known as Machi Big Brother, Huang has instead started purchasing BLAST tokens.
Investing Millions
Transaction records show that since August 5, Machi Big Brother has acquired a total of 350 million BLAST tokens. To make these purchases, he spent 1,464 Ethereum (ETH), valued at $3.86 million.
Blast, which has quickly garnered attention among Layer 2 projects within the Ethereum ecosystem, boasts a Total Value Locked (TVL) of $869.5 million, according to DefiLlama data.
Blast is an optimistic rollup project designed to enhance scalability and efficiency, and it is compatible with the Ethereum Virtual Machine (EVM). Developed by the creators of the popular NFT platform Blur, Blast was launched in November 2023.
Stopped Buying FRIEND
Up until a few days ago, Machi Big Brother was continuing to invest in FRIEND tokens. However, according to Lookonchain data, he has ceased his investments in this area.
Friend.tech is a blockchain-based social platform. The platform’s main feature is the requirement for tokens, referred to as ‘keys,’ to access chat rooms. These tokens can also be bought and sold between users.