• Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong.

    Onchain: Coming back to life

    May 21, 2025
    Naomi
    AuthorNaomi
    Onchain: Coming back to life

    Returning to life has been a theme for crypto recently in many ways. 

    Story One

    New exit strategy just dropped 

    Imagine you're the founder of an AI crypto project that paves your way to wealth, but not for others. People start harassing you, some going as far as blackmailing you. 

    What do you do? Jeffy Yu has found a unique answer to that. The Zerebro founder went on a pump.fun livestream (video since deleted so this is anecdotal) where he seemingly unalived himself. A little later, a blog post of his went live, supposedly triggered by his passing, introducing the idea of legacy coins, a memecoin that would stand in as his legacy. As his obituary spread across CT, the value of the legacycoin skyrocketed. 

    Yet, all wasn't as it seemed. While CT discussed whether crypto livestreams and coining everything had gone too far, Jeffy sat happily in his parents' basement, watching the charts of his coin go up. Eventually, greed set in, and he started putting in buy orders from the dev wallet. His coming back to life (or more correctly, his fake s*icide) were further proven by a San Francisco newspaper journalist running into him. 

    X

    As people realized it was all just a lie, they started selling, and the first legacy coin's chart looks like all the other pump and dumps. Congrats on the legacy! 

    DEX Screener

    Takeaway: Bullying on CT might be bad, but so is faking one's own death and then trying to cash in on the memecoin pump thus generated. 

    Story Two

    Good boy gone bad? 

    Coinbase's marketing image of a good boy always following best practices is endangered. But unlike the Panda, notoriously threatened by extinction, they don't have a cute face to rescue them in the court of public opinion. 

    On May 15th, the official Coinbase account tweeted that they had experienced a data breach, blaming cyber criminals and rogue support agents who leaked 1% of their customers' sensitive information, including their home addresses. 

    X

    Instead of giving in to the criminals' demand for $20 million, Coinbase CEO Brian Armstrong did a Uno reverse on them and offered anyone helping to catch the criminals $20 million instead. 

    In addition, they fired a team of support agents based in India. As a result of this breach, the company is facing at least six lawsuits alleging a failure to adhere to security protocols, and countless humorous to offensive comments on X. The privacy maxis are giving off new sparks of life.

    X

    Takeaway: KYC is a problem waiting to be fixed by Zero-Knowledge-Proofs. If widely implemented, we could KYC once, and present the proof thereof to any subsequent new service we sign up for. 

    Story Three

    Eth coming back to life 

    Congrats to everyone who held ETH in the past years, wishing they'd bought Bitcoin instead, myself included. The time of our hardship might finally be over, as ETH has given up its stablecoin existence and price has finally moved. 

    I'm still convinced that it was the dance that saved Ethereum. 

    X

    That said, there have been signs of life in the Ethereum ecosystem recently with the latest Pectra upgrade going live and the Ethereum Foundation making moves again. 

    I admit I spent very little time studying their newly published board structure. I didn't get into crypto to look at org charts, yet the gist is that Ethereum must remain cypherpunk and not succumb to business acumen. On top of that, they launched a trillion-dollar initiative to elevate Ethereum security to a point where it surpasses traditional financial institutions. 

    And if all of that doesn't get your blood flowing, maybe ETH-chan will.

    X

    Takeaway: We shouldn't write off Ethereum just yet; it still got moves (pun intended). But I won't rely on that alone, brb, practicing my TikTok dance skills. 

    Fact of the week: This whole Jeffy saga reminded me of the book we were forced to read in High School: Sorrows of Young Werther, written by Goethe, who wanted to criticize the Romantics of his time. It backfired, as anecdotal evidence suggests an increase in suicides emulating the protagonist's death. This was later dubbed the Werther effect. Good thing no one reads anymore.

    Naomi for CoinJar


    Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

    Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.

    CoinJar’s digital currency exchange services are operated in the United Kingdom by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).

    On/Offchain

    Your weekly dose of crypto news & opinion.

    Join more than 150,000 subscribers to CoinJar's crypto newsletter.

    Your information is handled in accordance with CoinJar’s Privacy Policy.

    More from CoinJar Blog

    Bitcoin Soars to New All-Time High of US$115,000: But Why?
    Crypto News & Analysis

    Bitcoin Soars to New All-Time High of US$115,000: But Why?

    July 22, 2025Bitcoin again has powered through another psychological barrier: This time, the US$115k mark. What are the events that have helped this happen?Read more
    Onchain: No summer break in sight
    Opinion

    Onchain: No summer break in sight

    July 16, 2025Things in crypto just keep happening. Story One Pump.fun token sale On July 12th, Solana’s prime memecoin launchpad went through its public sale, raising $500 million in...Read more
    Onchain: A Midsummer Night's Crypto Happenings
    Opinion

    Onchain: A Midsummer Night's Crypto Happenings

    July 2, 2025If Shakespeare was alive today, he'd be the perfect person to write a comedy about crypto.  Story One One digital identity isn't enough  Perhaps the question we should ask...Read more
    App storeApp store

    Your information is handled in accordance with CoinJar’s .

    Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service.

    We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.

    CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).

    Apple Pay and Apple Watch are trademarks of Apple Inc. Google Pay is a trademark of Google LLC.

    This site is protected by reCAPTCHA and the and apply.

    CoinJar logo
    CoinJarGet the app.
    InstallInstall app