Reserve Rights (rsr) 
Crypto speculators faced a 20% loss on JBX after it was revealed that the $69 million funding from Paradigm was just an April Fool’s joke.
Juicebox, a versatile DAO-tooling platform, celebrated April Fool’s Day uniquely by boosting its native token JBX by 25%. However, the excitement was short-lived as the token dropped by 18% following the revelation that the supposed multi-million funding from Paradigm was simply an April Fools’ joke orchestrated by Juicebox’s content manager.
According to a screenshot shared in a post by @spreekaway, Juicebox’s content and marketing manager Brileigh (also known as brileigh.eth) announced on their page on Apr. 1 a $69 million funding for Juicebox. Although the announcement didn’t explicitly name any investors, the attached image featured Paradigm, a web3 venture capital firm, implying its participation in the funding.
“Thank you to our backers and supporters – this is just the beginning.” – brileigh.eth
Following the funding news, Juicebox’s native token JBX surged by 40% in value, driven by speculators pushing its price to $0.0043, a level not seen since February.
However, the price surge was short-lived. In follow-up posts made an hour later, Brileigh confessed that the news was just a prank, cautioning speculators against purchasing JBX tokens “in anticipation of financial gains on April Fools’ Day.” This revelation caused a sharp downturn in JBX price, leading to a loss exceeding 20% as it dropped to $0.0034, according to data from CoinGecko.
As of the latest update, Juicebox has not made any public statements regarding the matter, leaving speculators dealing with the aftermath of the prank.
Read more: ECB president unveils plans to control CBDC payments during prank call
