Dave Portnoy: Memecoins Are 'Legalized Ponzi Schemes'
CoinDesk Podcast Network
CoinDesk
4.7 • 698 Ratings
🗓️ 23 April 2025
⏱️ 11 minutes
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| 0:49.7 | Essentially, they are legalized Ponzi schemes. I mean, that's what a meme coin is. There's no value to it. |
| 0:57.3 | So you've got to get in and get out before it crashes. And I think most of the, what do you get? |
| 1:02.4 | I mean, Doge and maybe a couple others, but the true meme coins that people are doing on pump fun, |
| 1:08.1 | like it's the same general cycle every single time. |
| 1:12.7 | As long as people know what they're getting into, but I don't have, |
| 1:15.5 | I don't have the secret sauce on what makes one go up. |
| 1:19.3 | I know what makes mine go up. |
| 1:20.7 | I tweet it. |
| 1:21.7 | If I tweet it, they go bananas. |
| 1:23.7 | But, you know, it's an interesting, crazy market. |
| 1:36.2 | Stool Presidante, also known as the founder of Barstool Sports, |
| 1:40.8 | will be joining us at Consensus Toronto from May 14th to 16th. |
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