New Version, Worth Being Seen! #GateAPPRefreshExperience
🎁 Gate APP has been updated to the latest version v8.0.5. Share your authentic experience on Gate Square for a chance to win Gate-exclusive Christmas gift boxes and position experience vouchers.
How to Participate:
1. Download and update the Gate APP to version v8.0.5
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3. Share your real experience with the new version, such as:
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Dave Portnoy Calls Meme Coins ‘Gambling,’ Not Built to Last
At Consensus 2025, Barstool founder Dave Portnoy opened up about his wild ride in the meme coin world. Calling them “gambling” and likening the scene to a “Ponzi scheme” (not entirely negatively), Portnoy admitted he chased the rush—but paid the price. From losing millions on a failed token backed by a fake Argentine president to lawsuits over SafeMoon, he says meme coins are a rigged game favoring early insiders with bots.
Despite making millions in minutes on coins like Greed and JailStool, the backlash, legal risks, and real-world confrontations have shifted his perspective. “It’s not built to last,” Portnoy said. “I get the hype, but I don’t think it stays forever.”