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Futures
Futures
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NEW
Trade on-chain assets and enjoy airdrop rewards!
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Top asset management team helps you profit without hassle
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Activity Center
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20 USDT
Earn 40% commission or up to 500 USDT rewards
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Gate Blog
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#BTC #ETH #GateioInto11
Dave Portnoy Calls Meme Coins ‘Gambling,’ Not Built to Last
At Consensus 2025, Barstool founder Dave Portnoy opened up about his wild ride in the meme coin world. Calling them “gambling” and likening the scene to a “Ponzi scheme” (not entirely negatively), Portnoy admitted he chased the rush—but paid the price. From losing millions on a failed token backed by a fake Argentine president to lawsuits over SafeMoon, he says meme coins are a rigged game favoring early insiders with bots.
Despite making millions in minutes on coins like Greed and JailStool, the backlash, legal risks, and real-world confrontations have shifted his perspective. “It’s not built to last,” Portnoy said. “I get the hype, but I don’t think it stays forever.”