The post Kraken criticized for Dave Portnoy sponsorship after token pump and dumps appeared on BitcoinEthereumNews.com.

Crypto exchange Kraken is under fire for letting controversial Barstool Sports founder Dave Portnoy “shit on its reputation” after he launched a number of memecoins that all crashed over 99%. Throughout February, Portnoy has promoted a number of coins that have rocketed, crashed, and made thousands of dollars in the process. Among these is a token with the ticker JAILSTOOL, which he is now committed to holding after previously claiming to have sold it all by accident while using the toilet. He’s currently getting flak for launching the tokens GREED and GREED 2. Lookonchain notes that he held 35.79% of the GREED supply and sold it in one transaction, causing it to crash 99%. He reportedly made over $250,000. Users on X claim Portnoy “is taking a giant shit on Kraken’s reputation and they’re just sitting there doing nothing.” NFT trader @Tyler_Did_It said, “How long is Kraken going to keep sponsoring Dave Portnoy while he openly mocks the space on a daily basis?” So in 2 weeks Dave Portnoy: Conducts ~15 pump and dumps on his audience.Get insider information on a coin.Gets sent millions of tokens for free.Loses 5m on the coin.Gets refunded the 5m. AND THEN LAUNCHES A TOKEN AND DOES A FSH WITHIN AN HOUR. Stop supporting this ‘man’. — Bold (@boldleonidas) February 18, 2025 Read more: The insiders behind Javier Milei’s disastrous LIBRA crash “Hey @krakenfx curious how long you’re going to continue sponsoring Dave Portnoy and his daily pump and dumps for,” another asked. Crypto sleuth ZachXBT also agreed that Portnoy’s behavior isn’t a good look for Kraken. He said, “To launch multiple memecoins, saying you are not going to sell, and then selling right after is worse than what CT native influencers like CryptoGodJohn or SZ ever did.” Portnoy defends his memecoin pump and dumps…

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Filed under: News - @ February 19, 2025 6:15 pm