A innovative way for Juicebox, a versatile DAO-tooling platform, to celebrate April Fool's Day was by increasing its native token JBX by 25%. But the joy was short-lived, as the token fell 18% after it was discovered that the alleged multi-million dollar sponsorship from Paradigm was actually just an April Fools' hoax planned by Juicebox's content manager.


Juicebox's content and marketing manager Brileigh (also known as brileigh.eth) reportedly posted on their page on April 1 that Juicebox has secured $69 million in investment, based on a screenshot provided in an X post by @spreekaway. The announcement did not specifically mention any investors, however the accompanying graphic showed web3 venture capital firm Paradigm, suggesting that the firm was involved with the fundraising.


The announcement was quickly made private by Brileigh, thus Crypto.news was unable to confirm it. Juicebox's native token, JBX, saw a 40% increase in value after the funding news. Speculators drove the token's price to $0.0043, a level not seen since February.


However, the price spike was short-lived because Brileigh eventually admitted in follow-up articles that the news was a hoax and advised investors not to buy JBX tokens "in anticipation of financial gains on April Fools' Day." The disclosure caused a precipitous decline in the price of JBX, resulting in a loss of more than 20% as it crashed to $0.0034, according to CoinGecko data.

Juicebox hasn't released any public comments about the situation as of the most recent update, allowing observers to deal with the fallout from the practical joke.