Market
Dave Portnoy’s Meme Coins Spark Controversy

Dave Portnoy, the outspoken founder of Barstool Sports, is no stranger to controversy. This time, his foray into the meme coin sector has left a trail of financial wreckage and confusion.
The case adds to the flurry of controversies around new token launches, drawing debates about ethics in crypto trading.
Dave Portnoy and the Rug Pulls to the Community
It started with Portnoy’s launch of GREED, a meme coin he promoted as a collectible token. According to on-chain analyst Lookonchain, Portnoy purchased 357.92 million GREED tokens, representing 35.79% of the total supply.
Then, in one swift move, he sold his entire holding, causing the price of GREED to plummet by 99%. Despite the market crash, Portnoy walked away with a profit of approximately $258,000.
While Portnoy cashed out, others were less fortunate. One investor lost $101,000 in three hours, purchasing GREED with 911 SOL (worth $153,000) before selling for 309 SOL ($52,000) amid the price collapse.
“Dave Portnoy’s sell-off caused this guy to lose $101K on Greed in 3 hours! This guy spent 911 SOL ($153K) to buy Greed, and sold it for 309 SOL ($52K), losing 602 SOL ($101K),” Lookonchain reported.
The rapid devaluation raised questions about market manipulation and the ethics of holding a significant portion of the token’s supply.
Meanwhile, this is not Portnoy’s first brush with crypto drama. Just days before launching GREED, he was embroiled in the LIBRA meme coin scandal. Reportedly, Portnoy was offered over 6 million LIBRA tokens pre-launch but returned them upon learning he could not disclose his involvement.
“Dave Portnoy revealed he was offered over 6 million LIBRA tokens pre-launch However, he sent them back after being told he could not disclose receiving them. There are likely dozens of influencers who accepted tokens without disclosure. He is the only one who came forward,” BlockNews revealed on X.
He remains one of the few influencers to admit being approached with undisclosed tokens, sparking speculation about other influencers who may have secretly taken the deal.
Portnoy’s Move From GREED to GREED2
Unfazed by the backlash, Portnoy launched GREED2, securing 268.25 million tokens, or 26.8% of the total supply.
“Don’t invest in this collectible coin with more than you can afford to lose. It will be volatile. I will not sell 1 penny until at least midnight EST or maybe never. Be careful,” he warned potential buyers in a post.
Despite the caution, many viewed the move as another potential “rug pull” waiting to happen, with some users on X voicing their frustrations.
“IDC [I don’t care] if he wants to buy and sell coins when he’s transparent about it Encouraging people to hold and not sell and saying he’s not going to sell, then full stacking, is disgusting,” Liv, a popular user on X, commented.
The user also highlighted Portnoy’s hypocrisy, criticizing other crypto figures while seemingly replicating similar tactics.
At the same time, Portnoy began promoting another token, JAILSTOOL, listed on the Kraken exchange. He said all his GREED profits were reinvested into JAILSTOOL, which he never vowed to sell.
However, users quickly called him out, noting inconsistencies in his narrative. One pointed out that while Portnoy deployed GREED, he had no direct involvement with JAILSTOOL, leading to more skepticism about his intentions and transparency.
“…greed was actually deployed by you. Jailstool was not, and you also said you weren’t going to sell greed, lol,” crypto and NFT enthusiast moonpie666 remarked.
In response to the mounting criticism, Portnoy took to X to defend his actions and shed light on the darker side of the meme coin market.
“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. The entire ecosystem is Greed and nothing else. Go dump on each other peasants but don’t complain to me if you lose money,” he expressed.
His blunt comments did little to quell the backlash, with critics accusing him of exploiting his influence and perpetuating the GREED he claimed to criticize. Some users argued that Portnoy’s ventures in GREED and GREED2 were no different from other pump-and-dump schemes prevalent in the meme coin space.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
BNB Springs Back From $531 With Unshaken Bullish Conviction

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I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.
When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.
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My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.
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Market
XRP Futures Traders Increase Bets on Upside

Over the past week, XRP’s price has remained range-bound amid the broader market’s recovery attempt.
However, with a growing bullish bias toward the altcoin, XRP may be on the brink of breaking free from this range and trending upward. This analysis explains why.
XRP Futures Traders Bet on Upside as Long Positions
The momentum shift towards the bulls has become evident, particularly within the futures market, where long bets on XRP are now surpassing short positions. This is reflected by the token’s XRP’s long/short ratio, which is currently at 1.07.

The long/short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market.
When its value is below one, it indicates that the number of short positions outweighs long positions in the market, suggesting bearish sentiment or a lack of confidence in the token’s future price performance.
As with XRP, when an asset’s long/short ratio is above one, it means there are more long positions than short ones. It indicates that traders are predominantly bullish on XRP and hints at a higher likelihood of an upward breach of its narrow range.
In addition, XRP’s relative strength index (RSI) has climbed steadily, indicating a gradual rise in demand for the token. The key momentum indicator, at 50.77, currently rests above the neutral line and is in an uptrend.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
At 50.77, XRP’s RSI signals a shift toward bullish momentum. It indicates that buying pressure is starting to outweigh selling pressure, and the asset may be poised for further price increases.
XRP Eyes $2.18 Resistance as Bulls Look to Push for $2.29
XRP currently trades at $2.13, just 3% away from its next significant resistance level, $2.18. If buying pressure intensifies and the altcoin successfully flips this price point into a support floor, it could trigger further price growth. In this scenario, XRP could potentially climb to $2.29.

However, if demand weakens and the bears regain control, XRP may remain range-bound. It could even break below the $2.03 support and fall to $1.99.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Optimism, Aztec, and Huma Finance

The crypto market is attempting a recovery, with Bitcoin (BTC) nearing the $90,000 milestone. Amidst improving sentiment, several startups are launching enticing airdrops, providing crypto enthusiasts with opportunities to engage with budding platforms without initial financial input.
This week, we discuss airdrop participation opportunities from three projects with financial backing from renowned investors.
Optimism
Layer-2 blockchain Optimism is one of the top three crypto airdrops this week. The Optimism crypto airdrop comes after the network raised $267.50 million from key investors such as Andreessen Horowitz, Coinbase Ventures, Paradigm, and IDEO CoLab Ventures, among others.
The airdrop concerns a SuperStacks Campaign, which opened on April 16 and will remain until June 30.
“With many chains building as one, a new network structure is emerging to solve fragmentation in Ethereum. This network is modular, interoperable, and composable by default. We call it the Superchain: and it changes everything,” Optimism explained.
Rewards are in the form of points, awarded for interacting with the projects. Airdrop farmers also get rewarded for providing liquidity to superchains, scalable blockchains combined into a single ecosystem to solve Ethereum fragmentation.
Actual tasks bring 10 EXP (experience points) per $1 of daily liquidity. In the past, Optimism held five airdrops, giving away over 265 million tokens.
“You may be eligible for the 6th airdrop without realizing it. In the system, we collect badges as you perform operations on Optimism. However, since it counts your previous operations when you log in, you may have opened many badges.,” one airdrop farmer explained.
This means even minimal effort could yield rewards. However, participating in the Optimism airdrop does not guarantee future rewards. Instead, it only provides an opportunity to earn points.
Aztec
Another top crypto airdrop to watch this week is Aztec, bringing forth a privacy-focused Layer-2 zero-knowledge (ZK) rollup on Ethereum.
Aztec is backed by $119.1 million in funding from investors such as Andreessen Horowitz (a16z), Paradigm, Consensys, and Coinbase Ventures.
The project has garnered significant attention, following talks of a native AZTEC token and a confirmed retroactive airdrop for early users.
On April 17, the network announced the Aztec Sequencer Form, front-running a public testnet. Interested participants were asked to fill out the form to gain early access to the testnet.
Historically, blockchain projects reward testnet participants with tokens. Based on this, Aztec’s funding and investor backing increase the probability of an airdrop.
Huma Finance
This week, the watchlist also includes Huma Finance, the first PayFi (Payment Finance) network built on Solana. The project focuses on transforming global payment settlements using blockchain technology.
Huma Finance launched the second version of point farming, which is available only on the Solana network. Participants can deposit USDC tokens and earn Feathers (points). Notably, no KYC is needed in this version, and more pools are available.
Recently, the project announced social and deposit quests on Galxe, allowing users to complete these quests and try to win a share of $2,000. Notably, participants should have at least lvl 2 of Web3 Passport.
“Huma 2.0 is The Next Wave! Now anyone can earn real yield and stack rewards, exclusively on Solana. New quest is LIVE on Galxe Quest. Join the PayFi movement for a chance to grab a share of $2000 USDC,” the network shared.
The project also launched a point farming program, in which participants can deposit USDC tokens into one of the pools. For this activity, users must pass KYC.
Meanwhile, Huma Finance boasts up to $46.3 million in funds raised from backers such as HashKey Capital, Circle, ParaFi Capital, and Distributed Global.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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