Kanye West Announces Launch of Official Memecoin, YZY Coin
- Crypto YZY Launch by Kanye West
- Ye's Criticism of Existing Cryptocurrencies
- YZY Coin as part of censorship-free ecosystem
American rapper and entrepreneur Kanye West, also known as Ye, made a surprising announcement this week. He said he will launch a new cryptocurrency called YZY next week and criticized existing digital currencies, saying they are all “fake.”
This announcement comes two weeks after Ye posted a series of controversial tweets related to the topic of “currency” and “crypto.” After briefly deactivating his account on the X platform, Ye returned to the digital scene, reaffirming his interest in the decentralized finance sector with a new tweet last Friday.
The rapper plans to introduce the YZY token as part of an ambitious project to build a censorship-free financial ecosystem for his brand. The new currency aims to provide an alternative for Ye to bypass platforms that have terminated partnerships with him following several controversies.
According to recent reports, Ye was aiming to hold an 80% stake in the YZY token , but ended up closing a deal for 70%. Of this, 10% will be allocated to market liquidity and the other 20% are allocated to investors. The coin will serve as the official currency of the artist's website https://yeezy.com/ .
The token launch was initially scheduled for Thursday evening, but was postponed to the following day. At the time of publication, the price of YZY Coin was trading at $0,005, up 300% in the last 24 hours.
Recently, Kanye retweeted CZ, the retweet happened at the time Kanye confirmed the launch of the meme coin YZY Coin.
That one retweet got him to 33.2m followers? wow. 🤔 https://t.co/IXz4eweQcc
— CZ 🔶 BNB (@cz_binance) February 22, 2025
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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