Friend.tech CEO Reportedly Leaves Base Network, Triggers Token Sale

Bittime -Friend.tech Web3social platform, is facing a potential major overhaul after their founder, Racer, expressed a desire to move the platform from theBase network.This news shocked the community and caused a significant drop in the price of friend.tech's token, FRIEND.

Offer Rewards for Moving Solutions

Racer posted a message on the X platform offering a reward of $200,000. This prize goes to the developer who can find a solution to move friend.tech from the Base network without causing major disruption to users. 

The size of this prize shows a strong desire to leave Base, but still prioritize user experience that is minimally impacted.

Source: @0xRacerAlt/X

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Friend.Tech CEO Leaves Base: Strained Relationship

Racer reportedly cited strained relations with Base as the main reason for their potential departure. Racer stated there was a misunderstanding with investor Farcaster, who owns shares in Base (developed by Coinbase). 

This misunderstanding allegedly caused stress on the Farcaster team and users. According to Racer, this pressure caused the relationship to deteriorate, and resulted in friend.tech being excluded from the "Base community."

Coinbase Acknowledges Dissatisfaction

Jesse Pollak, head of Base at Coinbase, responded to the news by acknowledging the feelings of isolation the friend.tech team was experiencing. He expressed regret over the situation, but ultimately respected their decision and offered support. 

Pollak said, "If the team decides to leave Base, I will be sad, but I also respect and support their decision."

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Token Prices Plummet

News of Base's potential departure had a severe impact on the value of the friend.tech token. After Racer's post, FRIEND tokens reportedly experienced a drop of more than 28%. This sharp decline reflects investor uncertainty regarding the future of the platform and potential challenges associated with network migration.

Uncertain Future

Whether friend.tech manages to move from Base or stay on the network is still unknown. The coming days will be crucial for the team to consider their options and ponder the best course of action for the future of the platform.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Friend.tech (FRIEND) Price Prediction 2024-2030: Will it Rise?

Farcaster: Web3 Integration, Interactive Experiences, and the Future of Social Media

History of Donald Trump's Relationship with Bitcoin, From Contra to Support

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.