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On Tuesday, Coinbase CEO Brian Armstrong confirmed the acquisition of a $25 million UpOnly NFT from prominent crypto trader Cobie.
“The speculation is accurate, we acquired the NFT,” Armstrong stated to his 1.6 million followers on X. “UpOnlyTV is making a comeback.”
The speculation is accurate, we acquired the NFT. @UpOnlyTV is making a comeback. pic.twitter.com/kbGNzjLoJQ
— Brian Armstrong (@brian_armstrong) October 20, 2025
According to on-chain data, Coinbase transferred $25 million in USDC to Cobie for the NFT, allowing him to return as the host, with plans to revive the podcast.
The UpOnly NFT originated from the podcast series “UpOnly,” which was hosted by Cobie and Ledger. The show features leading traders, project founders, and fund managers discussing trends in the crypto space.
However, the program was put on hold approximately three years ago, following the collapse of FTX in 2022 and the ensuing crypto winter.
‘When NFT is Burnt, Podcast Will Restart’: Cobie
In May 2025, Cobie issued a challenge stating that if someone burned the NFT, the program would return for another season.
“OK I am no longer the decision maker on if UpOnly returns,” Cobie wrote in May. “The power is now held within this NFT that I just minted. When the NFT is burned, the podcast will restart. Until then, please leave me alone.”
OK I am no longer the decision maker on if Up Only returns.
The power is now held 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
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The offer, however, limited sponsorship rights and editorial authority. Given the substantial price set on the NFT, Cobie remarked at the time, “You couldn’t set a dollar amount on OpenSea, so I just kept adding 0s until the figure seemed too large for anyone to purchase, even as a joke.”
On Tuesday, Coinbase not only acquired UpOnly’s NFT but seemingly exceeded the asking price for the non-fungible token.
Shortly after Coinbase’s acquisition, Jordan Fish, known as Cobie, expressed his astonishment succinctly.
UpOnly Podcast Returns With ‘Eight Episodes’
According to the NFT’s fine print, the token holder “can compel Cobie and Ledger Status into performing, like monkeys, 8 episodes of UpOnlyTV.”
“We are permitted to call you fools for purchasing it, or completely ignore you with no acknowledgment of your existence during our 8-episode season,” the NFT description stated.
In a separate post on X, Cobie humorously remarked, “I’m too old to have a crypto podcast; I’m going to look like Gary V.”
“It has been 3 years since UpOnly ended. I was in my 20s when it started, and now I have grey hair. We will rename it Unc Only, and I will spend $25 million on cosmetic surgery. See you soon.”
It has been 3 years since UpOnly ended. I was in my 20s when it started, now I have grey hair. We will rename it Unc Only and I will spend $25m on cosmetic surgery. See ya soon
— Cobie (@cobie) October 20, 2025
Coinbase’s acquisition coincides with significant technical challenges related to an outage with Amazon Web Services (AWS).
The post Coinbase CEO Confirms Spending $25M to Buy UpOnly NFT From Cobie appeared first on Cryptonews.
