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.

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