Mim coins are pure confusion, and Dave Portnoy flourishes in it. Incorrect transactions, wild flipping and token launch -he is changing madness to millions of. The method is as follows:
Balance gambling
Dave Portnoy was not ashamed in the spotlight. From changing the Barstool Sports into a media empire to viral pizza reviews and high -ranking gambling, he built a brand around him.
Recently, however, his name is making encryption, which is another reason. And not only encryption, but also memes coins, accidental deals, and ultimate he left.
One of the biggest stories is the Libra (Libra), a token that has been traction after President Javier Milei approves President Javier Milei. But the participation of Portnoy began with a different kind of Libra.
Portnoy said it paid about 6 million Libra to the project to promote the project, but the founder, Hayden Davis, asked to be quiet and quietly, and Portnoy decided to return the money.
Then, in one of the most bizarre investment mistakes, he accidentally bought a wrong Libra to an incorrect Libra to $ 170,000 with a completely different contract address from the headline that produced the wrong version.
Portnoy realized his mistake and took X with a trademark mix of self -criticism. Warning: This is a meme coin. I accidentally bought it. .. It will be volatile. After all, I will go to zero. ”
Meanwhile, the actual Libra token, which Milei helped the pump, reached a $ 4.5 billion market cap when the president suddenly withdrawed support.
Milei himself is now facing criticism of financial illegal acts, and some political opponents demand impeachment.
But it did not slow the portnoy. Anyway, it seems to have fueled his entire throttle diving to memes coins. Let’s see how the swirling guess and the encryption community are responding to chaos.
Portnoy’s meme coin craze hit the over drive
A few days after the wrong Libra token and the original Libra token, Portnoy brought a problem to his hands, fired his token, and turned it over in a few hours to define the space in a few hours. I decided.
On February 18, Portnoy introduced a new token called Greed through PUMP.FUN, a Solana (SOL) -based platform designed to simplify Meme Coin Creation.
Branding is characterized by the image of Gordon Gekko of Wall Street’s Michael Douglas, and is a notorious character of the line called “Greed is Good”.
And for a while. The token soared, reaching $ 41.5 million in just a few hours.
As the excitement was built, Portnoy posted the moment when he posted on X. “Did you keep hearing how the meme coin died? If you feel good, you can turn 2K to about millions in 15 minutes. It doesn’t seem to be dead to me. ”
But in a day, he publicly declared another project (Jailstool), which previously approved all greed tokens. ‘
Since then, according to the whole chain data, Portnoy exchanged all single greed tokens with Jailstool tokens in a single deal, with a 99%increase in value of about $ 250,000.
His decision, which decided to pay cash, triggered backlash, and many people accused him of being a “rug pool,” and developers or influential people were used to produce liquidity in the project, late investors who were worthless tokens. I have it.
Portnoy posted as follows and quickly defended him. The coin is #jailstool until it reaches 1 billion market cap. ”
He continued to claim that he could earn more than a million dollars in sales, but instead made a 75% decrease before greed.
“Many people made money. I took a profit. I did not make it. Some people won and some were lost. Only the loser continues to bother. ”
Then, pornography is proud of being able to make other tokens easily, rather than retreat, and will still be “sweet”. Just greed. ”
A few hours later, he started Greed2 and warned not to put more than investors could lose more.
Unlike the predecessor, Greed2 struggled to gain traction. In the next five hours, we briefly went up to $ 7 million before plunging 90%.
On February 20, he returned to X and shared screenshots of the phantom wallet balance, showing a variety of small profits from 1,923%for greed, 344%in Greed2, and other memes coins.
Critics were damaged by retail investors who jumped late, blaming pornography as reckless. Portnoy doesn’t seem to worry. Whatever, he seems to be fully accepted the confusion.
SEC column or noise?
As Meme Coin Antics of Portnoy expands, social media has become a hotbed of speculation, accusation and abnormal rumors.
One of the biggest arguments in the round is that Portnoy can face legal issues. One user said, “There is a rumor that the court document is facing Dave portnoy violations of several SEC securities.
But there was no actual report or statement by the regulatory authorities to confirm it.
In addition to the recent speculation, the SEC announced the creation of cyber crime units to deal with the fraud of the crypto industry. Due to this movement, some have proposed a direct connection between Portnoy’s recent token flip and regulatory shift.
One user said, “Portnoy Rugs Five Tokens has five tokens in the stream, two days later the SEC starts a cyber crime device.
Another post adopted a more cynical tone.
Portnoy decided to mock the situation rather than dealing with the charges.
“love you! Too many scammers and lying. Let’s clean this space! Take out the trash. ” “Can we arrest Crybabies, which says the meme coin is dangerous?”
So far, all official actions and official criticisms are noise. But the growing turmoil shows how deep his actions have shared the encryption community. Nevertheless, Portnoy does not retreat. Whatever, he is doubled.
Excessive advertising on the basics, confusion about attention
Portnoy for MEME Coin Market is rapidly formed to become a master class for how to increase over value in encryption rather than the basics.
Most merchants focus on revenue, but porn seems to be more interesting in the mechanics of interest. He uses large followers to start the market movement as he sees the real -time ripple effect.
“He found infinite money flaws,” said Memecoin (MEME) ‘s Punk. Immediate volatility.
But that’s not just about money. “He continues to rotate because he is blindly blindly by the merchant’s hamster wheel.”
Portnoy creates a token and goes out or moves after seeing the surge. Traders know the danger, but dive anyway. This is not because of believing in tokens, but because the activity itself is a draw.
This phenomenon has not been separated. Platforms such as pump.fun have made memes coin creation almost easy. Since its launch in January 2024, as of February 21, more than 7.8 million tokens have been created on the platform, and most of them are rarely provided beyond speculative thrills.
As a result, the market has become a rotational gate of the viral sex trend, and the next large token is determined by how quickly it can spread without being determined by innovation.
In an interview with Crypto.news, Tobin Kuo, the CEO of Seraph Studios, said, “Honestly trust in Crypto is not exactly the best. “At this point, even a veteran is joking that the space is changing to the world’s largest casino.”
It can explain why Portnoy has crossed the deal. As the punk said, “All legal experts warn him. Back Rashi arouses his next movement. ”
Whether this model can last or eventually collapse, it still remains, but the cycle of over -advertising continues to lead the market.