Dave Portnoy, the founder of Barstool Sports, has gained notoriety for pushing boundaries. His foray into Solana’s meme coins has created a stir, inviting both mockery and criticism. Recently, he has decided to distance himself from the ongoing hype.
On his “Davey Day Trader Global” live stream, Portnoy halted the launch of “GREED3,” criticizing the meme coin scene for being overly saturated and childish—“too many babies,” he remarked.
Dave Portnoy From GREED to JAILSTOOL
Portnoy’s latest escapade in crypto began dramatically but turned chaotic. He initiated the GREED token on Solana’s Pump.fun, claiming 36% of its supply, which rapidly escalated its market cap to $40 million. However, the bubble burst as quickly; after making a quick $270,000 profit by selling his stake, the token’s value plummeted, leaving investors high and dry.
In a bold move, he rolled his profits into a new token named JAILSTOOL, calling it a response to his naysayers. “I wanted to be crypto Caesar… really meme coin Caesar,” he stated. “But the people don’t deserve it.”
His subsequent token, GREED2, has been underwhelming, unable to replicate the hype of its predecessor despite a modest personal investment of $11,000.
Will GREED3 Ever Launch?
After GREED2’s lukewarm performance, Portnoy has teased the possibility of a GREED3 token. Enthusiastic followers have been vocal, flooding his social media with requests and trending hashtags like #greed3. However, during a recent trading livestream, Portnoy implied that the launch might not happen.
“I don’t think I can launch GREED3,” he admitted. “There are too many babies for me to launch GREED3… all I get is headaches.”
Despite his backswing, speculation continues to swirl around the meme coin landscape. While some support him for being candid, others critique him for artificially inflating the market and leaving investors at a loss.
Dave Portnoy JAILSTOOL and Beyond
Portnoy is far from finished with meme coins. His latest commitment, JAILSTOOL, currently boasts a market cap of $9 million. He has vowed not to divest from his holdings, which stand at an impressive $468,000, until it reaches a hefty $1 billion.
His choice of name for the token plays on the jabs from critics, reflecting his knack for controversy.
In the meantime, Portnoy appears satisfied to navigate the volatile world of meme coins and maintain his presence in this unpredictable crypto sphere. Regardless of public sentiment, his influence on the meme coin genre remains undeniable.
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Key Takeaways
- Portnoy canceled the launch of “GREED3” during his livestream.
- His current focus is on JAILSTOOL, which currently holds a $9 million market cap.
