Solana Co-Founder Drops Truth Bomb on Jupiter’s Failed $70M Stunt 💣

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Dear brothers and sisters of the blockchain, gather close! Let us speak not of price charts or circulating supply-no, no-but of the human soul trembling beneath the weight of speculative frenzy. Ah, yes… Jupiter’s token debate has reopened an old, festering wound in the crypto psyche: can one truly buy redemption when the heavens rain down cursed coins upon an already drowning people? 🌧️💸

  • Large buybacks? Noble gestures, like giving alms to a beggar while setting his house on fire. 🔥
  • Ongoing unlocks? A relentless procession of Judases, each unlocking their 30 pieces of silver-monthly. 🗓️🪙
  • Industry “wisdom”? Oh yes, the prophets now preach long-term capital strategies-for after the temple has already collapsed. 🏛️💥

The so-called “buyback plan” by Jupiter was never a plan at all, my friends. It was a prayer whispered into the void-$70 million thrown into the abyss, expecting gratitude. But the abyss merely laughed, chewed it up, and spat it out at $0.20. 😂📉

The tragedy began, as all tragedies do, with hope. In early January-a month soulless and cold, perfect for financial despair-Siong Ong, co-founder of Jupiter (JUP), approached the digital pulpit:

what do you all think if we stop the JUP buyback?

we spent more than 70m on buyback last year and the price obviously didn’t move much.

we can use the 70m to give out for growth incentives for existing and new users.

should we do it?

– ⚔️ SIONG (@sssionggg) January 3, 2026

Ah! At last-a man sees the absurdity! He sacrificed 70 million denarii upon the altar, and for what? A price that yawned and went back to sleep. The people did not rejoice. The whales did not weep. The charts remained… indifferent. 🥱

A buyback overwhelmed by unlocks

Imagine, if you will, bailing water from a sinking ship using a teaspoon. You are heroic. You are diligent. You are also, utterly, comically, damned. 🚣‍♂️💦

So it was with Jupiter’s $70 million buyback. They spent half their fees like a noble tsar feeding peasants before winter-except winter never ends, and the peasants keep multiplying. By January 2026, JUP traded near $0.20-$0.22, having fallen nearly 89% from its peak. Not from lack of faith, no-billions in transactions flowed through! But the supply, oh the supply! Since launch, JUP’s circulating tokens swelled by 150%. And each month, like clockwork demons, 53 million new tokens emerge from the dark vaults of vesting schedules. 🕰️👾

The buyback? A candle held against a tsunami. A moral gesture with no metaphysical weight. Ong, trembling with clarity, proposed: Let us stop pretending. Let us take the gold and bribe the future with growth incentives instead. Not salvation-but perhaps survival. 🤔💸

Why Yakovenko says buybacks fall short

And then-enter Anatoly Yakovenko, barbarian-genius, co-founder of Solana, speaking not as a banker, but as a seer. He cut through the noise with the precision of a C program in a Python script:

Protocols should actually stash the cash for a future buyback. This would force all the unlocks to trade at the future expected post buyback price.

– toly 🇺🇸 (@toly) January 4, 2026

Judging by his words, I believe he has read Hegel. Or perhaps he simply understands human greed-same thing, really. 🤷‍♂️

His idea? Delay. Hoard. Wait. Let the market feel the hunger. Let the unlockers tremble at the thought of what’s coming. Instead of buying back now at a discount, save the cash and unleash it later, like a divine judgment. This way, every new token unlocked must be priced not against today’s despair, but against tomorrow’s vengeance. ⚡💸

Or better yet-lock staking incentives, make the weak-handed suffer for their impatience. Is this finance? Or psychology? Or theology? 🤯

The Jupiter faithful are divided. Some cry, “But buybacks are discipline! They show we care!” Others whisper, “Yes, but what good is discipline when the rules were rigged from the start?”

And so, they changed course-quietly, like monks revising doctrine. The 2026 airdrop cut from 700 million to 200 million JUP. Austerity in the time of abundance. A tiny flicker of sanity in the storm.

The lesson, brothers and sisters? Simple, yet crushing: in a world governed by relentless unlocks, buybacks are not salvation-they are theater. 💀🎭

And the price? Still near $0.20. The market, that great silent judge, has spoken.

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2026-01-05 07:40