This April Fool’s Day joke cost crypto investors 25%

Investors suffered a 25% loss on JBX after Paradigm's $69 million funding round turned out to be an April Fool's prank.

On September 1, 2022, Juicebox management similarly announced the false news that the Ethereum-based crowdfunding platform had secured a $69 million funding round backed by cryptocurrency venture capital firm Paradigm.

But it was later revealed to be an April Fools' Day prank, causing JBX speculators to lose more than 20%.

JuiceBox’s April Fools’ Day joke

This message was triggered by a post on X by the anonymous account Briliegh.eth. The post has since been made private. The post claims that JuiceBox has closed a round of funding and expresses its gratitude to backers and backers for their role in the alleged achievement.

The post read, "We raised approximately 69 million US dollars!". While no investors are explicitly named, an accompanying Paradigm image strongly demonstrates their involvement in the round.

Data from CoinGecko shows that the price of JuiceBox’s native token, JBX, surged more than 40% to $0.0043. The celebrations didn't last long and after some time, Briliegh.eth admitted that it was all accidental. She wrote in the post, "Happy April Fools' Day everyone!" and told speculators not to buy JBX tokens for financial gain.

The new news caused JBX prices to drop, with the token value falling by 25% to $0.0033.

The fallout from the prank prompted a strong response from X users. Responding to a screenshot of the original announcement shared by @spreekaway on

More Cryptocurrency April Fools’ Day Pranks

In a similar incident, decentralized technology stack Waves saw its price briefly rise by 5% after its anonymous founder “Sasha” announced a fake integration with artificial intelligence, before quickly returning to previous levels. Some users criticized the joke, likening it to market manipulation.

Interestingly, on April Fool’s Day, Ethereum influencer and Bankless co-host David Hoffman made a big joke and announced that he would leave the ETH ecosystem and join Austin Federa and Yakovenko at the Solana Foundation.

Hoffman joked that he would be the “Vice President of Decentralization” and teased the idea that Solana is not as decentralized as Ethereum. Given his long history of advocating for Ethereum, this claim has amused many more than angered them.

BitMEX Research also half-jokingly stated that there were no outflows from the Grayscale Bitcoin ETF and mocked the large outflows that GBTC has experienced in recent weeks.

They later clarified in a follow-up post that the actual outflow on April 1 was $303 million.

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