Coinbase splashes $25M to revive a podcast from the last bull run

Crypto speech Coinbase has spent $25 cardinal to get and pain a non-fungible token (NFT) designed to revive the erstwhile fashionable crypto podcast called UpOnly.

Coinbase CEO Brian Armstrong confirmed that the “rumors are true” connected Tuesday, adding that the steadfast bought the NFT to bring backmost the UpOnly podcast for a caller season. 

Onchain information from Arkham Intelligence besides confirmed that Coinbase sent $25 cardinal USDC to a wallet controlled by podcast big and crypto influencer Jordan Fish, besides known arsenic ‘Cobie.’

The archetypal podcast was fashionable during the 2021 bull marketplace and featured interviews with salient crypto figures. It was notably sponsored by FTX earlier the speech collapsed.

UpOnly’s past occurrence was uploaded to YouTube successful December 2022, soon aft the FTX collapse. In May, Cobie said “I americium nary longer the determination shaper connected if Up Only returns.” 

“The powerfulness is present stored wrong this NFT that I conscionable minted. When the NFT is burned, the podcast volition restart.”

The NFT was listed connected OpenSea but the highest connection bid was conscionable 4.7 ETH, oregon astir $18,500, truthful Coinbase appears to person vastly overpaid for it.

The NFT present ranks arsenic the 5th astir costly NFTs sold successful crypto’s history. Cointelegraph reached retired to Coinbase but did not person an contiguous response. 

Source: Brian Armstrong

‘Unc Only’ jokes Cobie

“Ah antheral wtf,” Cobie responded connected X, stating that it has been 3 years since UpOnly ended. “I was successful my 20s erstwhile it started, present I person grey hair. We volition rename it Unc Only and I volition walk $25m connected cosmetic surgery. See ya soon,” helium added.

“Time to spell unrecorded Unc,” replied Coinbase. 

UpOnly describes itself arsenic podcast “prioritizing amusement earlier alpha but mostly determination is neither.”

Related: Related: NFT markets rebound aft $1.2B wipeout successful Friday’s crypto crash

Memecoins pump and dump 

As the quality broke, a memecoin called UPONLY connected the Coinbase layer-2 web Base skyrocketed 7,900% earlier dumping, portion the COBIE memecoin connected Base exploded 5,800%, according to DEXscreener. 

A Solana-based memecoin with the aforesaid UPONLY ticker pumped astir 250% astatine the aforesaid time.

“An UPONLY memecoin went to $50M successful 2024 connected Solana, but UpOnlyTV wasn’t resumed. Now that Coinbase spent $25M connected resuming UpOnly, let’s nonstop a Base memecoin to $500M,” said crypto capitalist ‘Rune.’ 

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