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CoinDesk Podcast Network

Dave Portnoy: Memecoins Are 'Legalized Ponzi Schemes'

CoinDesk Podcast Network

CoinDesk

Tech News, Business News, Daily News, News

4.7698 Ratings

🗓️ 23 April 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

Dave Portnoy, Barstool Sports founder aka stoolpresidente, joins CoinDesk to give his review on digital assets with a focus on the memecoins gamble. Plus, Portnoy reveals the best pizza spot in Toronto ahead of Consensus 2025. Dave Portnoy will be joining CoinDesk at Consensus 2025 in Toronto from May 14-16. Get your tickets here: https://consensus2025.coindesk.com/ This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes. - This episode was hosted by Jennifer Sanasie. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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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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