Dave Portnoy Is Buying and selling Solana Meme Cash and Simply Doxxed His Pockets: 'I’m Not Making an attempt to Be Shady' – Decrypt

He pumped and dumped Solana meme cash immediately for $68K in revenue. Welcome to the trenches, Mr. Dave Portnoy.

The Barstool Sports activities founder immediately took to X (previously Twitter) to disclose to the world that he’s discovered the way to commerce shitcoins, and doxxed his Solana pockets to the general public within the course of. 

“Uh oh. Davey discovered the way to commerce shitcoin and is already up a billion p.c on my 1st one!!!!!!,” he posted alongside a screenshot of a Phantom pockets with 2.68 million MONTOYA tokens—a meme coin based mostly on the “Montoya, por favor” phrase from a “Love Island”-like Spanish actuality tv present, in line with Know Your Meme.

Eagle-eyed crypto sleuths on X instantly matched a pockets tackle starting in “5rkPD” that lined up together with his trades. Subsequent posts from Portnoy, or “Davey Day Dealer” as he likes to check with himself, and a second meme coin commerce affirm the pockets is certainly Portnoy’s.

Shortly after Portnoy’s submit at 1:38pm ET, the MONTOYA token went from round a $2.8 million market cap to greater than $10 million. 

About 5 minutes later, blockchain information exhibits Portnoy bought all 2.68 million tokens in a single transaction for almost 118 SOL, the native token of the Solana community, value nearly $24,000.

“Holy shit. I’ve method an excessive amount of energy,” he posted on X a couple of minutes after the sale. “I made 25k accidentally. That is simply straight playing,” he mentioned. (It was solely about $20K in revenue, to be clear, however we will forgive the embellishment.) “This tweet turned it from 2 million to 10 million market cap in a blink.” 

A Barstool worker replied to his submit and urged Portnoy to “watch out,” telling him “they’ve your pockets tackle.” 

Portnoy responded: “I need individuals to know what I’m doing. I’m not attempting to be shady. That’s why I prefer it. Individuals can see my each transfer,” referring to the transparency blockchain networks present. 

Just a bit over an hour later, Davey was again in motion, shopping for up roughly 152 SOL value of a token referred to as MVP, a meme coin referencing the Most Worthwhile Participant Award win for Buffalo Payments quarterback, Josh Allen. 

In lower than ten minutes, he bought all his MVP cash throughout two transactions, bringing in additional than $77,000, and netting a revenue of almost $48,000 within the course of. 

“I’m out. I’ve tuned 10k into 75 on shit cash immediately. It’s like taking part in the rocket recreation on DraftKings. I like it!!,” he mentioned simply after the sale. 

For the final couple hours now since Portnoy unwittingly revealed his pockets tackle, Solana customers have been sending the pockets giant quantities of just lately created Solana meme cash, usually with names referencing Portnoy’s canine or Barstool Sports activities.

This isn’t Portnoy’s first crypto rodeo both. Manner again in August 2020, he introduced he held at the least $1 million in Bitcoin, solely to “panic promote’ it two weeks later and admit he “fucked up [with] Bitcoin.” 

For the reason that shock launch of President Trump’s TRUMP meme coin in mid-January, Portnoy has been considering the launch of his personal token, suggesting he’s spent plenty of time researching cash and crypto within the course of. 

Earlier immediately, crypto media persona Nick O’Neill alleged that Portnoy was working with Solana protocol Meteora to launch a coin, which Portnoy rapidly denied. O’Neill countered with what gave the impression to be a imprecise risk: “I’ve the precise story particulars. Need me to run with it or maintain off and we will focus on it on stream?”

“Run it,” Portnoy replied.

He then capped off his first day within the meme coin trenches with a submit mortem video for his followers. “Do you go to jail for this? Can I not do that? I feel it is authorized,” he mentioned within the video.