Friend.tech co-founder Racer implies departure from Base network, causing FRIEND to fall below 1 US dollar

PANews reported on May 27th, according to The Block, the price of Friend.tech fell by more than 20% after its co-founder Racer hinted at leaving Base. Racer's statement sparked market concerns, leading investors to sell off their holdings of Friend.tech tokens. Previously, Friend.tech had achieved some development and user base on the Base platform. CoinGecko data shows that FRIEND is now quoted at $0.9697, with a 24-hour drop of 35.0%.

Racer stated on X: "System design bounty: If you can find a way to migrate Friend.tech from Base without causing significant problems for users and it runs well enough, we decide to use it and will pay you $200,000." In another post, Racer explained that the relationship between the Friend.tech team and Base has always been unstable,"Farcaster's investors smeared us like crazy when we launched because they misunderstood what we were doing. They put a lot of pressure on our team and users; since then our relationship started going downhill as we were 'excluded by the Base community'." Notably at some point on Sunday, Racer's posts became inaccessible; it is currently unclear whether they deleted their account after posting.

In response Jesse Pollak who is in charge of Coinbase’s Base admitted that the Friend.tech team felt “isolated and disconnected” from certain parts of both Base and Ethereum ecosystem . Pollak wrote: "If this team decides to leave Base I would be very sorry but I would also respect any path chosen - such is beauty in decentralization chain economy."