Jupiter’s $70M Buyback Blunder: Should We Just Give It Away? 😂💸

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Key Highlights

  • Co-founder Siong Ong is pondering whether to halt buybacks and instead sprinkle some cash fairy dust on users and new recruits.
  • In a twist of fate, Jupiter has tossed over $70 million into the $JUP black hole in 2025, while the price stubbornly hovers around $0.21-like a cat that refuses to get off the windowsill.
  • The community is split, like a banana, with some cheering for buybacks and others waving red flags about investor trust sinking faster than a lead balloon.

So here we are, Jupiter, a decentralized exchange orbiting the Solana network, is mulling over the idea of ending its extravagant $JUP token buyback program-after the grand total of over $70 million spent in 2025. Seems like a lot of cash to just watch it sit there, doesn’t it?

In a recent post on X, our gallant co-founder Siong Ong threw out a question to the masses, wondering if perhaps this mountain of money could be better utilized. You know, like possibly rewarding loyal users or luring in fresh faces, especially since the token price hasn’t budged an inch-stubborn as a mule.

“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

“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 growth incentives for existing and new users. Should we do it?” he mused, clearly channeling his inner philosopher.

Ong also pointed to Helium, another blockchain buddy, whose CEO Amir Haleem recently hit the pause button on buybacks because the market was giving him the cold shoulder. Despite raking in a neat $3.4 million in revenue in October, Helium decided to redirect funds to pump up their subscriber numbers and boost network usage-because why not?

Ong gave a nod to this strategy, calling it “taking the first step” and suggested Jupiter might want to waddle down the same path.

“Thanks @amirhaleem for taking the first step.”

– ⚔️ SIONG (@sssionggg) January 3, 2026

Community reactions and next steps

The discussion has split the community like a piñata at a birthday party. Some folks believe buybacks are the golden ticket for long-term prosperity, while others are shouting from the rooftops that cutting them off could send investor confidence crashing down like a poorly-built house of cards.

One user quipped, “People bought JUP because buybacks were part of the protocol’s success. Without them, it’ll just be a memecoin with a JUP logo that might as well cost nothing-even if Jupiter strikes it rich.”

Ong reassured them that halting buybacks isn’t a plot to sink the project. He noted that selling his own tokens would be the easiest route to riches, but alas, $JUP comprises 99% of his net worth. Other bright ideas floated around, like rewarding stakers in SOL or USDC, but Ong said those wouldn’t really help Jupiter compete with its Solana rivals.

Meanwhile, Jupiter is still one of the top five Solana exchanges by active wallets. Last month, it boasted around 1.48 million users and a staggering $169.8 million in trading volume. Oh, and they’re also cooking up Q4 staking rewards and a January 2026 airdrop of up to 700 million tokens-because who doesn’t love free stuff?

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2026-01-03 19:32