Coinbase Invests $25 Million in UpOnly Podcast Revival

Exchange buys NFT to relaunch podcast season.

The cryptocurrency exchange Coinbase has acquired an NFT for $25 million, designed to launch a new season of the UpOnly podcast. The transaction was confirmed by the platform’s founder, Brian Armstrong. 

The rumors are true, we bought the NFT. @UpOnlyTV is coming back. pic.twitter.com/kbGNzjLoJQ

— Brian Armstrong (@brian_armstrong) October 20, 2025

According to Arkham Intelligence, Coinbase transferred 25 million USDC to the wallet of UpOnly host Jordan Fish, known by the pseudonym Cobie. He created the NFT with the condition that burning the token would automatically restart the show. 

OK I am no longer the decision maker on if Up Only returns.

The power is now stored within this NFT that I just minted. When the NFT is burned, the podcast will restart.

Until then, please leave me alone.https://t.co/5Mar75ifw6

— Cobie (@cobie) May 7, 2025

Prior to the deal, the highest bid on the OpenSea marketplace was 4.7 ETH (~$18,500 at the current rate). Coinbase’s purchase ranks among the most expensive NFT transactions in history. 

UpOnly peaked in popularity in 2021, supported by FTX. The last episode aired in December 2022 following the collapse of the exchange. 

Some users drew historical parallels, declaring the onset of a bear market. 

Reaction from UpOnly and the Community 

Fish responded to the news with a skull emoji. He later stated that he is “too old for a crypto podcast.” 

“It’s been three years since UpOnly closed. When we started, I was in my early twenties, and now I have grey hair. We will rename the show UncOnly, and I’ll spend this $25 million on plastic surgery. See you soon,” the host noted.

Following the news, community members launched several meme coins on Coinbase’s L2 network Base. Named after the podcast, UPONLY surged over 7000% in a day, reaching a market cap of $3.5 million. 

The coin under the ticker COBIE soared by 8765%. The market value of the asset rose to $361,000.  

In June, Coinbase was criticized for sponsoring a U.S. Army military parade.