Outside Source
“See you in hell,” crypto influencer and investor Cobie replied to a user promoting the Solana Pump.fun meme coin styled after his UpOnly podcast.
Jordan Fish, known more popularly as Cobie, burned 60% of the supply of a Solana (SOL) meme coin issued via Pump.fun on Friday, Nov. 8, after receiving the tokens as a gift. The token, dubbed “UPONLY,” shares a name with Cobie’s former crypto show, and an unknown developer sent 600 million coins to the trader. However, Fish stated that he is not involved with the meme token.
At first, Cobie tweeted a screenshot of a swap from UPONLY coins to dog-theme meme token Dogwifhat (WIF). The trader shared another picture of what seemed like a burn transaction with the caption – “This was ‘worth’ $17 million when I burned it lol.”
Burning in crypto means tokens are forever destroyed and removed from the circulating supply.
Solana’s blockchain explorer Solscan confirmed that UPONLY’s supply was readjusted to 400 million, indicating that Fish had indeed burned 600 million of the tokens. According to DEX Screener, UPONLY briefly spiked to a $45 million market cap before falling to a $4.3 million valuation after Cobie’s burn.
UpOnly was a podcast sponsored by the now-defunct crypto exchange FTX. Cobie co-hosted the show with Brian Krogsgard, known by the moniker Ledger. Since FTX’s collapse in late 2022, both hosts have discontinued the program and shifted to other crypto ventures.
Fish, in particular, was reportedly working on Echo, a collaborative crypto angel investor startup. Krogsgard’s activities have largely remained unknown.
This article first appeared at crypto.news
