News Explorer — Crypto Social Network Friend.tech Shuts Down After Raking in $44 Million in Fees

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Sep 9, 12:50 pm

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Crypto Social Network Friend.tech Shuts Down After Raking in $44 Million in Fees

Friend.tech, the crypto social network built on Coinbase's Base blockchain, has shut down, leaving investors in the lurch. The project's creators have revoked their ability to make changes to the protocol, but they still walked away with $44 million generated through fees. Despite hopes of becoming a breakthrough app, friend.tech struggled to retain users and experienced a decline in deposits and daily generated fees.

Friend.tech, the crypto social network built on Coinbase's Base blockchain, has shut down, leaving investors in the lurch. The project's creators have revoked their ability to make changes to the protocol, but they still walked away with $44 million generated through fees. Despite hopes of becoming a breakthrough app, friend.tech struggled to retain users and experienced a decline in deposits and daily generated fees.

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