Kanye West, or as he now insists on being called, Ye, has once again thrown the world into a delightful state of confusion. This time, it’s over cryptocurrency. Denying any involvement with the so-called YZY tokens, Ye has declared that he will unveil his very own digital coin next week. Because, of course, the world needs another celebrity-backed crypto. 🙃
This announcement comes after Ye previously dismissed any interest in digital assets, proving once again that consistency is overrated. The man who once said, “I’m not into crypto,” is now diving headfirst into it. What could possibly go wrong?
Ye Declares All YZY Tokens Are Bogus 🚫
On February 22, Ye took to X (formerly Twitter) to clarify that he has no connection to the YZY tokens currently floating around. He labeled them as fake and promised to launch his own cryptocurrency soon. Because nothing says “legitimacy” like a hastily announced crypto project from a man who changes his mind more often than he changes his wardrobe.
“All current coins are fake. I’m launching next week,” Ye proclaimed, as if he were announcing a new album drop rather than a financial instrument.
The crypto community, ever the bastion of calm and reason, reacted with a mix of skepticism and amusement. Some critics warned that this could be another celebrity rug pull, while others pointed out the irony of Ye’s sudden crypto enthusiasm. Meanwhile, his loyal fans advised him to time the launch carefully to avoid market volatility. Because, you know, Ye is known for his meticulous planning. 😏
Nate Geraci, President of ETF Store, offered a word of caution to potential investors, saying:
“If he (Ye) launches and you buy & lose…it’s on you. Nobody to blame. I don’t want to hear about crypto regulation, rug pulls, scams, etc. It’s a wealth transfer from you to insiders. You’re spinning a broken roulette wheel.”
Ye’s Crypto Shenanigans Fuel Speculation 🕵️♂️
Ye’s announcement comes amid reports of multiple YZY-branded tokens appearing on the Solana-based launchpad Pump.fun. This has led to rampant speculation that Ye was indeed planning a token launch. Or perhaps it’s all just a giant misunderstanding. Who knows? Certainly not Ye.
Other reports suggest that Ye is actively working on a YZY token tied to his Yeezy fashion brand. Publications like CoinDesk allegedly received a press release from Hussein Lalani, Yeezy’s Chief Financial Officer, along with other sources familiar with the project. Because nothing screams “credibility” like a press release from a CFO whose name sounds like a character from a Bollywood movie. 🎬
Details about the token’s structure indicate that Ye could control 70% of the supply, with 20% going to investors and 10% reserved for liquidity. A portion of his holdings would reportedly be subject to a one-year vesting period, preventing immediate access. Because, of course, Ye needs time to figure out what he’s doing.
While an official launch date remains a mystery, speculation continues to grow. Data from Polymarket, a decentralized prediction platform, suggests a 71% probability of the token debuting this month, with over $18 million wagered on its release. Because nothing says “sound investment” like betting on a coin announced by a man who once tried to run for president. 🏛️
Ye’s latest move adds to the ongoing chaos of celebrity and political meme coins that’s currently plaguing the crypto industry. Such endorsed tokens have caused notable market turmoil in recent weeks. But hey, at least it’s entertaining. 🍿
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2025-02-22 16:56