Internet star Dave Portnoy gets sued at his doorstep for ‘shilling’ SafeMoon cryptocurrency

Internet star Dave Portnoy gets sued at his doorstep for ‘shilling’ SafeMoon cryptocurrency
2 months ago
2 mins read

Barstool Sports president Dave Portnoy has revealed he has been sued for ‘schilling’ the SafeMoon (SAFEMOON) cryptocurrency after receiving the notice at his front doorstep.

The well-known online personality reported that he was awakened by beating on his door at 8 am ‘thinking he was under attack,’ only to be informed that he was being sued for schilling SafeMoon, he told his Twitter followers on August 8. Portnoy, ironically, stated:

“I’m the only guy who loses all his money in @safemoon and gets sued for it.”

He added: 

“For the millionth time, I didn’t get a nickel from Safemoon. I told people it may be a scam before I invested. Can I sue these people suing me for waking me up and wasting my time?”

Dave Portnoy get sued. Source: Twitter

Portnoy down on Safemoon investment

Interestingly, Portnoy has witnessed his investment in SafeMoon lose more than 94% of its value, demonstrating he is indeed capable of holding on to his assets during a bear market. 

The stock trader and internet star tweeted the same day to express his disappointment with the performance of his $40,000 investment in the meme coin, which is now worth just $2,370. Portnoy said he was “still holding by the way” and “diamond hands.”

Portnoy also revealed that he is also being sued by SafeMoon, allegedly for “trashing” the project on his show, but provided little details. 

SafeMoon sues Barstool Sports president

What’s more, Portnoy tweeted a screenshot of SafeMoon’s sales manager expressing concern with the Barstool Sports host for giving the firm “a bad look and unfair representation.” 

Portnoy is not new to the world of cryptocurrencies; in August 2020, he purchased Bitcoin (BTC), but because of the market’s volatility, he sold it the following week. He then expressed regret about his lack of conviction and placed numerous other bets on cryptocurrencies, including SafeMoon. 

SafeMoon has decreased by more than 99% since reaching an all-time high of $0.00001399 in April 2021. As things stand, the token is currently trading at $0.000000005564, down 1.5% in the last 24 hours, according to CoinMarketCap data.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Jordan Major

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.