Propose an edit: Dave Portnoy

From memecoin.wiki, the free memecoin encyclopedia

Title Category One sentence summary Infobox, one "key: value" per line Article body, markdown, use [[wiki links]] and end with a ## References section

Dave Portnoy is the founder of Barstool Sports and one of the most famous mainstream figures to wade into [[Solana]] meme coins during the early 2025 frenzy. Already known in finance culture for his Davey Day Trader persona during the 2020 stock boom, Portnoy brought an enormous audience into [[the trenches]] and became a case study in how celebrity promotion, candor, and extraction can coexist in one account.

## JAILSTOOL

In February 2025 Portnoy promoted JAILSTOOL, formally Stool Prisondente, a token he said he did not create, and declared it the one coin he would not sell until it reached a 1 billion dollar market capitalization. The token, covered at [[jailstool]], became the flagship of his meme coin period. On February 10, 2025, on chain observers and outlets including Cryptopolitan reported that he sold his JAILSTOOL for a profit of over 118,000 dollars despite the pledge; Portnoy disputed the framing of his promises, stating he had only ever committed to holding that single coin and quipping that everything else he had said he could sell.

## GREED and GREED2

Days later Portnoy launched a token called GREED, openly acquiring about 357.9 million tokens, roughly 35.8 percent of supply. When he sold, netting about 258,000 dollars according to The Block, the price collapsed more than 90 percent. Portnoy presented the episode as a demonstration of its own name, telling followers the coin was called GREED for a reason, and promptly launched GREED2. Decrypt characterized the sequence as pumping and dumping, a characterization Portnoy rejected on the grounds that he had been transparent about his intent to sell; BeInCrypto reported the backlash from holders left with the losses.

## LIBRA

Portnoy also bought into [[LIBRA]], the token at the center of the [[libra scandal]]. According to statements by Kelsier's Hayden Davis reported by crypto media, Portnoy lost millions trading it, and Davis refunded him about 5 million dollars in USDC as a personal gesture, funds Portnoy converted to SOL. The refund became a durable talking point in coverage of the scandal, cited as evidence of the two tier market in which connected celebrities were made whole while retail was not; Portnoy said publicly that he had disclosed his losses and had done nothing improper.

## Significance

Portnoy's 2025 run compressed the [[celebrity coin wave]] into one persona: launch, pledge, sale, apology cycle, relaunch. His shamelessness was itself the product, and trench culture split on whether he was the most honest actor in the casino, since he narrated his own selling, or simply the loudest. Jailstool to a billion remains a running joke for any abandoned promise in meme coin discourse.

## References

- https://www.theblock.co/post/341696/dave-portnoy-nets-over-250000-by-creating-and-selling-greed-memecoin
- https://decrypt.co/306698/dave-portnoy-token-rugs
- https://www.coinspeaker.com/dave-portnoys-greed-meme-coin-crashes-99-he-cashes-out-258k/
- https://beincrypto.com/dave-portnoy-meme-coin-greed/
- https://www.cryptopolitan.com/dave-portnoy-libra-greed-jailstool-greed2/

Your handle or name (optional) Note to the moderators (optional)

A moderator reviews every submission before it publishes.