Kanye West, aka Ye, has announced the launch of a new coin next week, claiming that all current cryptocurrencies are “fake.”
The announcement comes just two weeks after Ye made a series of controversial social media posts that included references to “coin” and “crypto,” leading to the deactivation of his X account. However, Ye returned this week and mentioned “coin” again on Friday.
According to sources, Ye is preparing to launch a token called YZY as part of his plan to build a decentralized financial ecosystem for his personal brand. The token is designed to help him overcome barriers from financial platforms that have cut ties with him in the past due to related controversies.
Initially, Ye planned to hold 80% of the total supply of YZY coins but later agreed to reduce it to 70%, with 10% reserved for liquidity and the remaining 20% for investors. YZY will serve as the official means of payment on his online platform.
Kanye West is a famous American rapper.
The YZY coin launch was originally scheduled for Thursday evening but was postponed to Friday.
Ye’s entry into the cryptocurrency market comes as other high-profile figures have launched crypto projects, including President Donald Trump’s memecoin TRUMP .
Previously, Argentine President Javier Milei publicly supported the memecoin LIBRA , causing this coin to reach a capitalization of 4.5 billion USD before collapsing 95% in just a few days, raising concerns about transparency in the meme coin market.
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should research carefully before making any decision. We are not responsible for your investment decisions.
