News

Dave Portnoy Is Having A Headache With SafeMoon At Negative 94%

Dave Portnoy, the founder of Barstool Sports, has seen his investment in SafeMoon (SAFEMOON) plummet by more than 94%, showing to crypto aficionados that he is, in fact, capable of “hodling” during the bear market.
Dave Portnoy

On Monday, the stock trader and media celebrity turned to Twitter to mourn his $40,000 investment in memecoin, which has now dropped to $2,370.94 after he didn’t withdraw a single token.

Portnoy also stated that he is being sued by SafeMoon, allegedly for “trashing” the project on his program, although he didn’t go into much detail. Portnoy also tweeted a screenshot of SafeMoon’s sales manager criticizing the Barstool Sports frontman for giving the firm “a bad look and unfair representation.”

Portnoy has experience with cryptocurrencies, having purchased Bitcoin (BTC) in August 2020 only to sell it one week later due to volatility. He eventually expressed sorrow for his lack of commitment and went on to make numerous more crypto bets, including SafeMoon.

Dave Portnoy Is Having A Headache With SafeMoon At Negative 94% 3

SafeMoon is down more than 99% from its all-time high of $0.00001399 in April 2021. The coin has a negative 86% lifetime return on investment.

HashEx, a blockchain security organization, evaluated the project in May 2021. The business discovered 12 smart contract flaws at the time, including a “temporary ownership relinquish” that rendered it highly vulnerable to a rug pull.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

2 hours ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

3 hours ago

Crypto Advisory Council Now A White House Position Attracting Leaders

Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…

3 hours ago

Analyst Sounds Major Breakout Alert Amid Shiba Inu, WallitIQ, And Dogecoin Price Recoveries

Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…

3 hours ago

SEC Chair Gary Gensler Will Lose Power From January 20

SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…

4 hours ago

MicroStrategy Convertible Notes Now Out of Stock With $3B Raised

The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…

4 hours ago

This website uses cookies.