April Fool's jokes in the crypto market
This April prank failed: on April 1, the content manager of Ethereum-based crowdfunding platform Juicebox announced a successful US$69 million funding round.
This April prank failed: on April 1, the content manager of Ethereum-based crowdfunding platform Juicebox announced a successful US$69 million funding round. The tweet referred to venture capitalist Paradigm.
Unfortunately, this round of funding never materialized. An hour after the tweet went live, "brileigh.eth" View post on X: "Happy April Fools day y'all!".
By then, however, the tweet had already had an effect: The price of the token JBX rose 12 percent after the announcement of the alleged funding round - and fell 15 percent after it became clear that it was a hoax. The Briliegh.eth account has since been set to private.
On X (formerly Twitter), people reacted to the April Fools' joke with incomprehension: "What was actually the point of the joke here?" asked one user, while others simply demanded, "Prison."
A similar incident occurred with the cryptoproject Waves. Its founder "Sasha" View post on X: "Waves will be rebranded as an AI chain and the Waves ticker will be replaced by AI. Waves will also merge with GPT".
The share price rose five percent as a result, but quickly lost it again when it became clear that the tweet was not meant seriously. However, some users didn't feel like laughing: "The only thing it should be merged with is the FTX lawsuit because it's fraud."
BitMEX Research's April prank was relatively innocuous. View post on X, the crypto trading platform stated that there had been no payouts from Grayscale's Bitcoin ETF. A short time later, the account clarified that more than US$300 million had flowed out of the ETF.
