The post Barstool’s Portnoy makes $68K in risky meme coin trades, doxxes wallet appeared on BitcoinEthereumNews.com.

Dave Portnoy, the founder of Barstool Sports, has made $68,000 from buying and selling Solana meme coins. However, his high-risk trade also revealed his Solana wallet address, raising questions about security and transparency. Portnoy, also known as ‘Davey Day Trader,’ shared his experience investing in meme coins on X (Twitter).  He posted a picture of his Phantom wallet with 2.68 million MONTOYA tokens in it and could not contain his joy over the  ‘billion percent’ return on investment.  Crypto enthusiasts on X quickly identified his wallet address, starting with “5rkPD,” verifying his trades. Portnoy’s pump and dump of MONTOYA surged its market cap from $2.8M to $10M Right after Portnoy’s post, the MONTOYA token’s market cap surged from about $2.8 million to more than $10 million.  A short while later, the blockchain data showed that Portnoy had moved all his MONTOYA tokens, keeping the proceeds in his account for 187 SOL, which is about $24,000.  According to Portnoy the profit was between $20,000 and  $25,000 instead of the expected $25,000.  His Barstool employee cautioned him that he was revealing his wallet address, but Portnoy said: I want people to know what I’m doing. I’m not trying to be shady. That’s why I like it. People can see my every move. Dave Portnoy Undeterred, Portnoy did not stop and moved to another meme coin, MVP, which was based on the Buffalo Bills quarterback Josh Allen.  He bought and sold  MVP in a matter of minutes and made about $48,000.  “I’m out.  I’ve turned 10k into 75 on shit coins today. It’s like playing the rocket game on DraftKings. I love it!!” He posted the message on X. Solana users flood Portnoy’s doxxed wallet with meme coins Since Portnoy’s wallet has been disclosed to the public, Solana users have been sending him…

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Filed under: News - @ February 8, 2025 1:20 am