Barstool Sports CEO Launches $1M Charity Fund For Small Businesses

The Barstool Sports CEO Dave Portnoy has launched a charity fund worth $1 million that is meant to help the small business in the United States that were affected by the COVID pandemic. However, when he posted on Twitter, things didn’t go to plan as we can see in today’s crypto news.

The Barstool Sports CEO started accepting BTC donations on December 24 and has raised $6.7 million in cash and crypto for the small businesses of America. His campaign for the charity funds involved tweets, proceeds from sales of merchandise, and individual donations. The campaign raised $1 million from Crypto Twitter and about $500,000 in other crypto donations.

Done. Thank you for doing this ⁦@stoolpresidente⁩ it’s a pleasure to contribute to a cause like this pic.twitter.com/7xmlDBTKm2

— Mason Riley (@mrileytrades) December 24, 2020

The money will go to the Barstool Sports Fund which pools together all proceeds from sales of Barstool merchandise and individual donations which will then be distributed to small and family-owned businesses that struggled to keep up in the pandemic. Since launching the fund, Portnoy tweeted all of the time and now decided to actually do something about it.

Like every other restaurant, we are struggling during this time, doesn’t mean others aren’t hurting much, much more.

We wanted to do our very small part and we are so thankful for @stoolpresidente for what he is doing to keep our industry alive @barstoolsports @BarstoolFund pic.twitter.com/kOnYQ9xR0j

— VinceYoungSteakhouse (@vysteakhouse) December 26, 2020

When Portnoy started accepting BTC donations for his fund in December, he had no hesitations about the rousing of his old chums to raise more money:

 “You had us create a way for Bitcoin people to donate crypto. Enough talk. Time for Bitcoiners to show up.”

Hey @nflcommish remember that 250k donation you refused to take from me for frontline covid workers? I still have it. If you donate 250k to #barstoolfund to save small business I’ll match it. Quick 500k. Let’s go.

— Dave Portnoy (@stoolpresidente) December 23, 2020

The fund raised about $500,000 in crypto so far while Alex Wilson who is the co-founder of the Giving Block confirmed that the charity platform handles the donations. The fund raised about $1 million including Cash from the crypto community on Twitter and other Bitcoin bulls outside of the crypto community. Anthony Pompliano, Jason Williams, and the Winklevoss Twins are among the donors. Pompliano said:

“I love the initiative and would be hard-pressed to find a better cause.  Small businesses are the backbone of our country. They keep the American dream alive. These small businesses have been abandoned by politicians in their greatest time of need.”

The Charity already funded Arizona’s Pony Express Cleaners, Johny’s Luncheonette and Chako’s Family Bowling Centers in Pennsylvania. Pomp who has about 424,300 followers on Twitter, offered to tweet more messages from the ones that donated $10,000:

“The time and effort I can put in to solicit more donations will hopefully be the most impactful way to pitch in.”