According to Lookonchain, a wallet called "3apupK... Z1LF" was created the day before LIBRA went live and received 29,000 SOL (about $5.76 million). The wallet started buying about 9 minutes after LIBRA went live, by which time the price had soared to $1.75.
The wallet spent 28,740 SOL (about $5.77 million) on 2.30 million LIBRA. When the price of LIBRA rose to $4.56 and began to decline, the wallet lost more than $5 million on LIBRA.
After that, the wallet received 4.50 million USDC and sold all LIBRA for 2,163 SOL (~ $430,000). After selling LIBRA, it received 500,000 USDC.
Notably, the wallet also received 650,000 LIBRAs from the Libra team, which were quickly returned. Based on @chooserich's analysis, the wallet may have belonged to Dave Portnoy (@stoolPresidente).
Dave Portnoy participated in the LIBRA endorsement as a KOL and prepared funds to buy LIBRA in advance. But he lost $5.34 million due to the late purchase. Dave Portnoy asked Hayden for compensation for the loss and returned the LIBRA he received.
Suspected Barstool founder bought LIBRA at a loss of $5.34 million and received $5 million in compensation
2025-02-17 04:22:31
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