Dave Portnoy Accidentally Buys Wrong Crypto Token, Loses 170K
We may earn commissions from affiliate links or include sponsored content, clearly labeled as such. These partnerships do not influence our editorial independence or the accuracy of our reporting. By continuing to use the site you agree to our terms and conditions and privacy policy.
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.
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.
Commentaries 
Fill in necessary fields and publish