Dave Portnoy Accidentally Buys Wrong Crypto Token, Loses 170K

Barstool Sports founder Dave Portnoy unknowingly sank nearly $170,000 into the wrong LIBRA token, triggering a massive price spike before its value collapsed.

The token he bought had no connection to the one tied to Argentina’s President Javier Milei, whose involvement in a separate LIBRA project has sparked political backlash.

Portnoy’s accidental purchase briefly sent the obscure token soaring by over 3,000%.

Realizing his mistake, he took to social media, calling it a “meme coin” and warning followers not to take it seriously. His investment has since dwindled to just $62,000.

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Meanwhile, controversy swirls around the other LIBRA token, which Milei once endorsed before abruptly pulling his support.

The token’s market cap hit $4.5 billion before plummeting by 95% amid allegations that insiders offloaded $107 million in funds. The fallout has led to accusations of fraud against Milei and demands for his impeachment.

Alexander Stefanov