Dave Portnoy: Memecoins are ‘Legalized Ponzi Schemes’

They call him “El Presidente.” But unlike the other President, Dave Portnoy draws a line at launching a memecoin. He worries his followers will lose their shirts.“I got involved in memecoins because I wanted to launch a Barstool memecoin, but I didn’t want my fans and followers to lose money,” he said in an interview with CoinDesk source: https://www.coindesk.com/consensus-toronto-2025-coverage/2025/04/23/dave-portnoy-memecoins-are-legalized-ponzi-schemes