Friend.tech recently faced criticism for penalizing users who choose to use forks or copycat versions of its tokenized social media platform. The company warned that these users would forfeit their existing points and be unable to earn new ones. The decision was met with intense backlash from the crypto community, with many criticizing the app for its anti-competitive move. In response to the criticism, Friend.tech’s founder, “Racer,” issued an apology statement, acknowledging that the earlier decision was a “stupid statement” made out of fear of potential competition. Since its public launch on August 11, Friend.tech has seen a decline in key metrics such as activity, inflows, and volume.
