Popular American businessman and social media personality, Dave Portnoy has made over $258k by selling 357.92 million GREED, a memecoin he launched himself. Dave bought 35.79% token supply after creating it and sold it all in one transaction, causing the GREED price to crash by 99% in minutes.
Not stopping there, Portnoy has launched GREED2 memecoin and bought 26.8% supply. Onchain analysis platform Lookonchain has noted out this potential scam and has warned users to be aware of risk and keep their funds safe.
While launching memecoin, Portnoy claimed that the memecoin community is full of greed and everybody is trying to make quick money. The launch from the entrepreneur comes after he reportedly loses over $5 million in LIBRA token scam.
“There are lots of people in the meme coin world who try to act like they are the moral authority when all they want to do is dump on you and make easy money,” he said, “the entire ecosystem is Greed and nothing else.”
He also warned investors not to risk more than what they can afford to lose. “Don’t cry if you do lose. This is your world you created. Now dance for me!!!!,” he mocked.
The crypto community is currently abuzz with LIBRA token scandal and memecoin scams are ever increasing with GREED adding a new chapter to the history.
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