Barstool Sports founder promotes JAILSTOOL token after revealing his Meme coin transaction and being criticized by the community

Odaily reported that Barstool Sports founder Dave Portnoy disclosed his investment in Meme coins "Montoya por favor" and "Josh Allen MVP" in X, which saw a rapid surge and then a crash, sparking controversy. Montoya por favor's market cap once reached nearly $14 million, but has since dropped to $1 million. Josh Allen MVP's market cap quickly soared to over $12 million, but has since fallen to around $58,000 as of the time of writing. Portnoy's trades have drawn strong opposition from cryptocurrency traders, who accused him of dumping on his 3.5 million followers, while Portnoy defended his actions as being transparent. Subsequently, Portnoy promoted the "JAILSTOOL" token on Saturday and disclosed that he had bought over 50 million tokens, and after "accidentally" clearing his position, he bought back in out of humanitarian reasons. Portnoy has previously been involved in the cryptocurrency field, including promoting the cryptocurrency Safemoon, whose founders were accused by the U.S. SEC of market manipulation and fraud. Portnoy said: "I'm the only one who lost all my money on Safemoon and got sued for it."