What should I do regarding this depressed friend?

I met this guy a couple years ago. He ended up liking me, but our relationship never went anywhere past friendship. I knew him for about half a year, before he moved away. We went our different ways and occasionally chatted on social media like once a year. He started texting me recently, and I came to realize how... show more I met this guy a couple years ago. He ended up liking me, but our relationship never went anywhere past friendship. I knew him for about half a year, before he moved away. We went our different ways and occasionally chatted on social media like once a year. He started texting me recently, and I came to realize how depressed he was. He easily revealed how much trouble he has with money, family, and friends. He told me he still likes me. I told him, I wished to remain friends. He understood. However, he keeps inviting me out and offering to pay for me, even with his money trouble. He texts me constantly, and it feels like he's latching on to me. I haven't physically seen this guy in over five years. I'm not sure on what to do.
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