Jupiter Co-Founder Questions $70M JUP Buyback Program Effectiveness
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Jan 03 2026- Buyback Program Questioned: Jupiter co-founder Siong Ong has raised concerns about the effectiveness of the $70 million spent on JUP token buybacks over the past year, suggesting that these funds might be better allocated towards user growth to enhance the platform's long-term value.
- Divided Market Reaction: The Solana community reacted strongly, with supporters arguing that buybacks are outdated and that growth spending would better solidify Jupiter's market position, while critics warn that the absence of buybacks could detach the token from the platform's performance.
- Shifting Industry Trends: Ong's comments reflect a broader shift in the crypto industry, as more founders begin to question the effectiveness of buybacks and focus on user adoption and real usage instead.
- Strong User Base: Despite the controversy, Jupiter remains one of the most active decentralized exchanges on Solana, attracting approximately 1.5 million unique wallets and generating nearly $170 million in trading volume over the past month, indicating significant growth potential.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
