Crypto Exchange Coinbase has spent $25 million to acquire and burn an invisible token (NFT) designed to liven up the once-popular crypto podcast that called it out over and over again.
Coinbase CEO Brian Armstrong confirmed that the “rumors are true” on Tuesday, adding that the firm bought the Nft To bring back the recurring podcast for a new season.
Onchain data from Arkham Intelligence as well confirmed That Coinbase sent $25 million USDC to a wallet controlled by podcast host and crypto influencer Jordan Fish, also known as “Cobie.”
The original podcast was popular during the 2021 bull market and featured interviews with prominent crypto figures. It is notable that it was sponsored by FTX before the exchange collapse.
The final episode was last uploaded to YouTube in December 2022, shortly after the FTX collapse. In May, Cobie said “I’m no longer the decision maker to return.”
“The power is now stored inside this NFT that I just minted. When the NFT burns, the podcast will restart.”
NFTs are listed On OpenSea but the highest bid of the offer is 4.7 ETH, or around $ 18,500, so Coinbase appears to be paying a lot for it.
The NFT now ranks as the fifth most expensive NFT traded in crypto history. Cointelegraph reached out to Coinbase but did not receive an immediate response.
“Only UNC” jokes Cobie
“Ah Man WTF,” Cobie respond to X, saying it was three years since the end. “I was in my 20s when it started, now I have gray hair. We’ll replace it with UNC and I’ll spend $25m on cosmetic surgery. See you soon,” he added.
“Time to live UNC,” replied Coinbase.
Thus describes itself as a podcast “prioritizing entertainment before alpha but mostly without.”
Related: Related: NFT Markets Rebound After $1.2B Wipeout in Friday’s crypto crash
Memecoins pump and dump
As the news broke, a memecoin called the Coinbase Layer-2 Network Base skyrocketed 7,900% before collapsing, while cobie memecoin at the base exploded 5,800%, according in the Dex screener.
One based in Solana memecoin with the same ticker pumped around 250% at the same time.
“A memecoin went to $50m in 2024 in Solana, but was discontinued. said Crypto investor “Rune.”
Magazine: Ether’s price to go ‘nuclear,’ Ripple seeks $1B XRP Buy: Hodler’s Digest
