Barstool Sports Founder Dave Portnoy on Meme Coins

Barstool Sports founder Dave Portnoy expressed hesitation to launch a new Solana meme token, citing an influx of inexperienced traders.

During his livestream “Davey Day Trader Global,” Portnoy addressed the overwhelming requests for a “GREED3” token after the release of his previous meme coins, GREED and GREED2. He remarked, “I don’t think I can launch GREED3. There’s too many babies for me to launch GREED3… all I get is headaches.”

Last week, Portnoy launched GREED on the popular Solana meme coin launchpad Pump.fun, acquiring about 36% of its total supply. Initially, GREED soared to a nearly $40 million market cap before falling nearly to zero after Portnoy sold his entire stack for approximately $270,000. He reinvested these gains into a new meme coin, JAILSTOOL, which he has pledged not to sell until it reaches a $1 billion market cap; its current market cap is around $9 million.

After selling GREED, he released GREED2, which performed poorly and did not result in any sales, with Portnoy retaining around $11,000 worth of the tokens in his wallet. Although many fans have called for a GREED3 launch, Portnoy has recently indicated it is unlikely. “I wanted to be crypto Caesar… really meme coin Caesar,” he noted. “But the people don’t deserve it.”

Portnoy has been open about his crypto endeavors, including the ups and downs of meme coin trading. He has doxxed his public wallet and shared multiple trades on his X page. Currently, his wallet contains approximately 50 million JAILSTOOL tokens, valued at $468,000 as of now.

Edited by Andrew Hayward