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Coinbase.eth Buys UpOnly NFT from Cobie for $25M USDC

Coinbase.eth Buys UpOnly NFT from Cobie for $25M USDC

Coinbase’s $25 million USDC acquisition of the UpOnly NFT from Cobie marks a landmark experiment in tokenized media rights, sparking debate over creative control and authenticity in crypto broadcasting.

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Fact Check
The statement is strongly supported and corroborated by multiple sources, including a crypto news publication (CryptoBriefing) and a news aggregator (Aggr News). Crucially, these sources all cite verifiable 'on-chain' blockchain data as the evidence for the transaction, which is a highly reliable form of proof in this context. The consistency across reports provides high confidence in the statement's accuracy.
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Summary

On October 21, 2025, a wallet labeled 'coinbase.eth' transferred 25 million USDC to crypto influencer Cobie for the UpOnly NFT, granting Coinbase the right to compel Cobie and co-host Ledger to produce eight new episodes of the UpOnlyTV podcast. Coinbase CEO Brian Armstrong confirmed the acquisition, prompting discussion about media independence and on-chain content authenticity. The deal reflects Coinbase’s strategic investment in blockchain-based media ownership during the new bull market.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle and commonly used for large-value transfers and trading in the crypto ecosystem.
  • NFT: A non-fungible token representing unique digital assets verified through blockchain technology.
  • UpOnlyTV: A cryptocurrency-themed podcast hosted by Cobie and Ledger, embedded with NFT-based production rights enabling tokenized control over new episodes.