Have You Fallen for Latest April Fools’ Jokes in Crypto Space?

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In Brief
  • April 1 has become a day when companies put out fake news articles as a joke for April Fools'.

  • The crypto world is certainly very much a part of this tradition.

  • Some of these stories may sound like a joke today, but it may change in the near future.

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On April 1, people should be cautious about what they read online. Many news outlets have made a tradition of posting “fake news” articles as April Fools’ pranks.

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Back in 2019, an April Fools’ prank article claimed the United States Securities and Exchange Commission (SEC) had approved bitcoin (BTC) exchange-traded funds (ETFs). That fooled plenty of people, and, as a result, the price of the leading cryptocurrency skyrocketed in a matter of hours. This year, there have been a couple of bizarre stories as well.

Currency for “Big Hugs”    

Yesterday, the official Twitter account of the Teletubbies television show hinted about the show dropping a cryptocurrency dubbed TubbyCoin. That crypto was set to convey the value of so-called “Big Hugs.” Although there won’t be such a cryptocurrency, a charity campaign is tied to the joke. 

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Michael Riley of WildBrain Labs, the company that owns the Teletubbies, commented:

“I’d like to wish everyone a Happy April Fools’ Day! Although TubbyCoin is not really a cryptocurrency, our hope is that you’ll still enjoy sharing TubbyCoins with friends, family and anyone who needs a hug – all to bring some very real smiles to faces. And the part about WildBrain’s donation to charity is no joke.”

The company would donate $1 for every #TubbyCoin mention on social media.

Flipkart Accepting Bitcoin

India’s top online retailer Flipkart announced that it would now be accepting BTC as a form of payment. The Twitter post encouraged users to update the app to access the BTC payment option. Later though, the company did directly mention that this was just a joke. 

Bitfinex’s Pizza 

Bitfinex announced the opening of a chain of pizza restaurants in honor of Laszlo Hanyecz, who bought one pizza for 10,000 BTC. Although this is obviously a joke on the part of Bitfinex, Hanyecz probably finds nothing funny about it.

Huobi Joke or Prediction? 

Huobi simply tweeted an image that said BTC had hit $80,000. The image is followed by a line that reads “April fools.” It’s not that many people believed the post, but it did spark plenty of conversations in the thread to the tweet, with some people claimed they would have to reuse the image by June.     

KuCoin’s Suez Token

The ship that got stuck in the Suez Canal was one of the main storylines of the month. Kucoin took advantage of the matter to “launch” the Suez token. They claimed that the Suez token protocol would prevent such incidents in the future and “speed up the process of dredging the Suez Canal.”

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