Controversial rapper Kanye West, who now goes by Ye, is diving headfirst into the memecoin circus. After previously denouncing cryptocurrency as a scam that preys on fans, the artist is now planning to launch YZY coin – a dramatic reversal from the guy who once claimed he was “too rich to issue tokens.”
The timing couldn’t be more bizarre. Fresh off a string of antisemitic comments, praise for Hitler, and self-proclaimed “Nazi” statements, Ye’s planning to use this token as the official currency for his Yeezy brand. It’s his solution to being dropped by practically everyone – from Adidas to Balenciaga to Shopify. Because nothing says “comeback strategy” quite like launching a memecoin after getting canceled. The token will serve as a payment integration system for all Yes Yeezy online purchases. Like many meme coins, YZY faces severe price risks due to its dependency on social media hype.
Launching a memecoin right after Nazi comments and brand partnerships collapsing – classic Ye comeback strategy.
The token’s distribution plan is raising eyebrows: Ye’s keeping a whopping 70% for himself, with 10% for liquidity and 20% for investors. The launch, originally scheduled for February 21, 2025, got pushed to February 22 – information leaked through an email from someone claiming to be Yeezy’s CFO and confirmed by three sources close to the project. The token was actually stealthily deployed on February 18, reaching a peak market cap of $10.26 million.
The crypto market’s reaction has been nothing short of chaotic. Speculators have placed $11 million in bets on Polymarket, with launch odds sitting at 76%. Various copycat YZY-themed tokens have already popped up on Solana’s Pump.fun platform, though nobody’s sure if they’re legitimate.
Betting odds surged 55% in just 24 hours, showing just how wild this circus has become. This isn’t just another celebrity crypto launch – it’s a perfect storm of controversy, speculation, and market mayhem.
The project follows Donald Trump’s TRUMP memecoin launch, suggesting a new trend of controversial figures turning to crypto after being ostracized from mainstream platforms. Meanwhile, existing Ye-related altcoins have been on a rollercoaster ride, with some plummeting as much as 89%.
In the volatile world of celebrity memecoins, Ye’s latest venture might just be the most fitting encore to his recent controversies.
