Meme coins are pure chaos, and Dave Portnoys are endowed in it. Wrong trade, wild flip, and token launch – he is changing madness in millions. This way.
Playing wrong bent gambling
Dave Portnoys have never been to move away from the spotlight. From Bestool Sports, from his viral pizza reviews and high-gambling in a media empire, he has created a brand vigorously, unexpectedly and unethical.
Recently, however, his name is making rounds for a different reason – Crypto. And not only any crypto, but meme coins, casual trades, and a deal that he eventually went away.
One of the biggest stories revolves around Libra (Libra), a token that received traction after the Argentine President Xavier got, which supports it. However, Portnoy’s participation began with a different type of Libra deal.
Portnoy revealed that he was paid about 6 million Libra tokens to promote the project, but its founder Hayden Davis allegedly asked him to remain silent about the system, Portnoy decided to return the money Did.
Then, in one of his most bizarre investment blunders, he accidentally bought an incorrect Libra token of approximately $ 170,000-with a completely different contract address compared to creating a high-profile version.
Realizing its mistake, Portnoy with his trademark mixture with self-growth in X, wrote, “Anyone wants to buy some fake Libra? Warning: This is a meme coin. I bought it from an accident … It will eventually go to zero.
Meanwhile, the actual Libra token that Mili had helped the pump had reached a market cap of $ 4.5 billion – only when the President withdrew his support when the President suddenly withdrew his support.
Milli herself is now facing allegations of financial misconduct, some political opponents also called for their impeachment.
But this has not slowed the portnoy. If anything, it seems that he has only converted his full dive into a meme coins. Let’s break the speculation of revolving and how the Crypto community is reacting to chaos.
Portnoy meme coin mania hit overdrive
A few days after accidentally returning 6 million worth of 6 million worth of 6 million worth of original Libra tokens, Portnoy decided to take cases into his hands – launching their own tokens, launching them within hours Flipping, and riding a wild instability that defines space.
Portnoy on 18 February Pur: A new token called greed through the pump.
The branding was as nose as the nose, as Michael Douglas’ Gordon Gecko’s image Wall Street, which is notorious character for the line, “Greed is good.”
And for a brief moment, it was. The token sky touched, reaching a peak market cap of $ 41.5 million in a few hours.
As soon as the enthusiasm was created, Portnoy embraced the moment, posting on X: “I kept listening to how the meme coins were dead? I can turn 2K to just one million in 15 minutes if I felt so. I do not find it dead. ,
But within a day, he transferred all his greed tokens to another project, which he did earlier – Jailstool – publicly Announcement“Just put all the #Greed in #JailStool that I am never selling” because I said I will not sell. “
Then, on-chain data revealed The portnoy exchanged each greed tokens, which was owned by the gelstool tokens in the same transaction, at the time an estimated $ 250,000 value, immediately crashed the price of greed to 99%.
His decision promoted backlash, many accused him of a “rug bridge” – a word is used when developers or affecting a project affecting liquidity, which delayed the late investors Are caught
Portnoy quickly Rescuing Posting myself: “I really said that I will not sell 1 coin. That coin is #Jailstool until it hits 1 billion market cap. ,
He claimed that he could earn more than one million dollars from sales, but greed fell by 75% before exiting.
“Many people earned money. I took profit + put it in #JailStool, which I cannot touch. I did not make even a single penny on it. Some people won, some lost. Only loser people maintain bitch. ,
Then, instead of retreating, the portnoy bowed into controversy, claiming that he could easily make another token, and it would still be the “moon”, because, as he said, no one has the principle. Are just greed.
Hours later, he chased to launch greed 2 and warn investors that they could not put more than losing.
Unlike his predecessor, Greed 2 fought to achieve traction. This briefly climbed a market cap of $ 7 million before a decline of 90% in the next five hours.
On 20 February, he was back to X again, Splitting The screenshots of their phantom wallet balance, revealing the stagnant advantage – 1,923%on greed, 344%on greed 2, and different small benefits in other meme coins.
Critics condemned Portnoy’s functions as careless, which indicate damage to retail investors that jump late. For Portnoy, he is not worried. If anything, he is completely embracing chaos.
Secum or just noise?
As the antics of Portnoy’s meme coin, social media has become a hotband for speculation, allegations and unacceptable rumors.
One of the biggest claims making rounds is that Portnoy may face legal problems. “Rumors are emerging that court documents suggest that Dave Portnoy is facing allegations of several SEC Securities violations,” a user posted.
However, no real filing or statement from regulators has emerged to confirm it.
Connecting speculation, the SEC recently unveiled the construction of a cyber crime unit with the objective of dealing with fraud in the crypto industry. The time has led to some to suggest a direct link between Portnoy’s recent token flip and regulatory changes.
One user wrote, “Portnoy rugs five tokens live on a stream, two days later SEC launched a cybercrime unit.”
Another post adopted a more satirical tone: “Portnoy scams so hard that SEC had to launch a new cyber division.”
Instead of addressing the allegations on the head-on, Portnoy opted to make fun of the situation, which declares the SEC announcement to Jab on its critics.
“To love it! So many scammers and false there. Let’s clean the place!” He posted, before he was calling him fraud. “Can we arrest the crisis whom he was calling him fraud.” It is reported that meme coins are a risk and then cry cry? “
So far, all this is just noise – no official action or formal allegations. But the increasing uproar shows how deeply their works have divided the Crypto community. Nevertheless, the portnoy is not down. If anything, it is doubling.
Promotion on basic things, chaos on caution
In the meme coin market, Portnoy’s Forest in the market can quickly drive the price in the crypto, instead of promoting how a masterclass is taking shape as a masterclass.
While most traders focus on returns, the portnoy seems to be more introverted than the mechanics of attention. He takes advantage of his large scale to trigger market movements, while all look at the ripple effects of real -time.
The pseudonym in Memcoin (Mem) said CCO said, “He has discovered an infinite money mess – he tweeted a tikar for his 3.5m followers, and it is immediately the moon, then he again does it.” Immediate instability spark.
But it is not just about money. “He is visually surprised by his tricks with the hamster wheel of the traders, so he keeps moving it.”
Portnoy makes a token, grows it, then either comes out or goes to the next. Traders know the risk, but dive anyway – not because they believe in tokens, but because the activity is a draw.
This incident is far from isolated. Platforms like pump.fun have almost made meme coin construction almost comfortable. Since launch in January 2024, there have been over 7.8 million tokens created On the stage by 21 February, most of the speculative offers a bit beyond the thrill.
As a result, the market has become a rotating door of viral trends, where the next large token is not determined by innovation, but how quickly it can spread.
“Honestly, faith in Crypto is not at all time high,” said Tobin Kuo, CEO of Saraf Studio in an interview with Crypto.N.Nz. “At this point, even veterans are joking that space is turning into the world’s largest casinos.”
This can explain why Portnoy has just gone beyond trading – he is making it. As Pank has said, “Every legal expert has warned him to push him to do more.” Baikalash fuel his next trick. ,
Can this model remain or eventually collapse under its own weight, it remains to be seen, but the cycle is not stopping as long as the propagation goes to the market.
