Barstool Sports founder Dave Portnoy appears to have mistakenly invested nearly $170,000 worth of Solana in a random LIBRA token — not the controversial token linked to Argentinian President Javier Milei.
According to Solscan transaction data, Portnoy bought nearly $170,000 worth of an illiquid LIBRA token causing its price to spike by more than 3,000%. The LIBRA token he purchased has a different contract address than the similarly-named token associated with Milei in recent days, according to The Block Research.
"Anybody wanna buy some fake Libra? Warning. This is a meme coin. I bought it by accident," Portnoy posted to X shortly after purchasing the token. "It will be volatile. It will eventually go to zero. It may rip. It may tank. Don’t put on more than you can lose!!! It’s a collectible."
If Portnoy sells his position in the random LIBRA token at its current price, he would lose more than half of the money he invested. The roughly $170,000 Portnoy invested in the copycat LIBRA token is now worth just over $62,000 after the token fell to below $178 from a high over $289, according to The Block price page.
On Sunday, Portnoy disclosed new details of his involvement in the LIBRA token launch that ensnared Milei in controversy and triggered calls for impeachment. Portnoy said he planned to join the project as an advisor and bought the token upon launch. He later returned about 6 million tokens after the LIBRA project's advisor, Hayden Davis, asked him not to disclose the gift.
"I'm not going to tweet about this f---ing launch and act like I'm just, 'Oh, Milei's the f---ing best'...and not mention that they have given me coins," Portnoy said. "And by the way, I bought a shit-ton of it...they never gave me the coins before the launch."
Over the weekend, the crypto-friendly Milei boosted the newly-launched LIBRA token by promoting it as having a role to play in bolstering Argentinian small businesses. The token shot to a peak market capitalization of $4.5 billion before dramatically losing 95% of its value after Milei revoked his support for the memecoin and several wallets related to the token project cashed out $107 million, according to Lookonchain.
Argentinian lawyers have reportedly charged Milei with fraud amid calls for impeachment.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
