Dave Portnoy, founder of Barstool Sports, told the Consensus 2025 conference that "I love the thrill, I'm a gambler at heart", but admitted that Meme "is gambling and nothing else", saying bluntly that "I don't think it's going to last".
Portnoy reflected on his experience with Meme, including being sued for posting a video about SafeMoon: "They said SafeMoon paid me to promote it, which was a complete lie. I spent $20,000 to get out of this lawsuit."
Mr. Portnoy said Meme was "a game of manipulation controlled by early buyers and algorithms" and that "there will always be winners and losers". "It's a gamble, it's a Ponzi scheme, I'm not saying it pejoratively," he said, adding that "I can't imagine it lasting".
Founder of Barstool Sports: Meme Coin is a "Ponzi scheme" and "gambling" that cannot last
2025-05-15 22:56:59
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