So he (my friend) was like an already made an open entry statement about his engagement with crypto on or before (just in case) he is being probed of illegality so, his friend can always stand to defend him after early notice.
Life does not work that way, life is not a law TV show. Otherwise what is to prevent someone from getting out of trouble by simply having his criminal buddies vouch for him. 
The person in question is an idiot, and he is rationalizing his mistakes with even more idiocy.Whether it is a friend or it is a foe, you never reveal your crypto. You can provide them some knowledge, but you never talk about holdings, making money or any like that. Tomorrow that "good friend" can get hit in the head by something and turn into a foe, who will give information about you to some local criminal gangs.
Trust is not just built in one day, at least you also know about the informations that he was passing to his friend, if he doesn't trust you, he would hid some information from you and if he doesn't also trust his other friend, he will not give the information to him. Regardless, one question I had love to ask him is that what is the reason why he is giving his crypto net worth information to his friends? Is he doing it so that his friends will think big of him or he is doing it because of pride or was it his friend that asked him about it, what for? People put themselves at risk for some stupid reason because in this case, there's no tangible reason to why he is giving out such information. If you trust someone, what has it got to do with telling them your net worth, except you just want them to think highly of you.
You have no idea how many lifelong best friendships were ruined over money, even brothers end up trying to kill each other over money. Don't be naive.