Kanye West Launches Meme Coin, Hits $3 Billion in Market Cap Before Crashing - Auto-snipe Telegram alpha calls

The artist formerly known as Kanye West is getting into the cryptocurrency game.

Across a series of posts on X, formerly Twitter, Ye announced that he has a meme coin on the Solana blockchain. The Yeezy crypto token, YZY, unceremoniously launched on Wednesday (August 20), with Ye offering his followers a link to get involved. “Yeezy money is here,” he wrote. “A new economy, built on chain.”

Tweet from Kanye West about — Ye via Twitter/X

In a follow-up post, he shared a video of him announcing the venture. “The official Yeezy token just dropped,” Ye said with a straight face. The website adds, “YZY money is a concept to put you in control, free from centralized authority.”

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A close-up of Kanye West wearing a black shirt, with a neutral expression against a plain background. — Kanye West via X/Twitter

According to data on CoinGecko, the coin launched with a value of $2.00 before promptly crashing to and sustaining roughly $1.00 per token. As reported by Coin Desk, the crypto meme coin experienced a 6,800 percent surge, hitting $3 billion in market cap before its sudden crash. Insiders said that Ye has 70 percent of the supply, while 10 percent is reserved for liquidity, and 20 percent is for sale. Before the coin launched, Ye allegedly asked for 80 percent supply.

The Yeezy Money website also details another new venture for Ye entitled Ye Pay. “Ye Pay is a crypto payments processor that enables merchants to accept both credit card and crypto payments at fees lower than the typical 3.5 percent charged by traditional platforms,” the website reads. “Merchants can seamlessly integrate Ye Pay into their website or app, offering customers a simple and fast checkout experience.”

Additionally, Ye is set to launch a debit card entitled YZY Card, for which potential customers can put themselves on a waitlist. “It operates as a non-custodial card, enabling direct use of crypto without manual FIAT conversion or reliance on a middleman,” the website reads. There’s also a Q&A that stresses that the YZY coin, Ye Pay, and YZY Card are separate entities.

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