According to ChainCatcher, DL News reported that venture capital firms Paradigm and Notation Capital had invested in friend.tech's seed round at an undisclosed valuation. Many cryptocurrency investors bought the project's FRIEND tokens.

It is reported that the number of new users of friend.tech has dropped to single digits per day, and the daily fees have dropped from $2 million to less than $100.

Earlier news, the Friend.Tech team gave up control of smart contracts after growth stagnated.