Waking up to find Dave Portnoy has launched a new memecoin named GREED, shortly after facing criticism for the LIBRA coin. Dave claims that GREED embodies the extreme greed of the memecoin market. Then, he swiftly executed a rug pull on GREED, pocketing $258K in just a few hours, despite having hinted earlier that he wouldn't sell. In reality, Dave never outright promised not to sell; he just implied it. As expected, the community was outraged.
Amid this chaos, what did Dave do? Did he explain? Apologize? Remain silent? NO… Instead, Dave immediately launched another memecoin called GREED2, currently holding 26.8% of the total supply.
At the same time, Dave promoted another token named JAILSTOOL, which is listed on Kraken – one of the oldest and most reputable exchanges in the U.S.
What is going on? Dave Portnoy, the founder of Barstool Sports with an estimated net worth of $100 million, is rug pulling memecoins for a few hundred thousand dollars? Perhaps money is money, but Dave’s message is quite clear:
"There are many people in the memecoin world trying to act as the moral standard, but in reality, they just want to DUMP on you and make easy money. This entire ecosystem is driven by greed and nothing else. Go ahead and DUMP on each other, you common folks, but don’t complain to me if you lose money. You’re all greedy, so at least admit it. I won’t play dirty against you, but someone next to you might. This type of collectible token is proof of that. Don’t risk more than you can afford to lose. Don’t cry if you lose money. This is the world you’ve created. Now let me see you dance!!!!"
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