Dave Portnoy’s SafeMoon place is down 94%, claims he is being sued by challenge

Barstool Sports activities founder Dave Portnoy has watched his funding in SafeMoon (SAFEMOON) crash by over 94%, proving to crypto fanatics that he’s, in actual fact, able to hodling through the bear market. 

The inventory dealer and media persona took to Twitter Monday to lament his $40,000 funding within the meme coin, which has fallen to simply $2,370.94 after he didn’t withdraw a single token. “Nonetheless holding by the best way,” Portnoy mentioned. “Diamond fingers.”

Portnoy claimed that he’s additionally being sued by SafeMoon, probably for “trashing” the challenge on his present, however didn’t elaborate a lot additional. In a separate tweet, Portnoy shared a screenshot of SafeMoon’s gross sales supervisor expressing displeasure with the Barstool frontman for giving the corporate “a nasty look and unfair illustration.” Portnoy “talked about his SafeMoon losses on air however failed to say he hasn’t upgraded his holdings to V2 but,” the supervisor complained.

Portnoy is not any stranger to cryptocurrencies, having purchased Bitcoin (BTC) in August 2020 solely to promote it one week later resulting from volatility. He later expressed remorse over his lack of conviction and went on to make a number of further bets on cryptos, which included SafeMoon.

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So far as costs go, SafeMoon is down over 99% from its all-time excessive of $0.00001399 in April 2021, based on CoinMarketCap. The coin has a lifetime return on funding of detrimental 86%. 

SafeMoon was audited in Could 2021 by blockchain safety agency HashEx. On the time, the agency recognized 12 sensible contract vulnerabilities, together with a “momentary possession resign” that made it particularly susceptible to a rug pull.