August 22, 2025
Ye provides his identify to the increasing roster of celebrity-backed digital currencies.
Ye is throwing his hat into the digital currency space with the launch of his personal cryptocurrency, the YZY Token.
Taking to X on Aug. 20, Ye unveiled his new Yeezy Cash platform and YZY Token memecoin, which launched with huge positive aspects earlier than being accused of insider buying and selling.
“YEEZY MONEY IS HERE,” Ye wrote over a screenshot of a textual content message. “A NEW ECONOMY, BUILT ON CHAIN.”
He adopted up with a brief video asserting the official Yeezy Token, together with one other hyperlink to its web site. Quickly after, nonetheless, a group word flagged the launch with considerations of insider buying and selling.
“Value noting that Mikey Shelton, a developer behind this token, has overtly bragged about insider buying and selling of it on his Instagram,” the message states.
After the announcement, the token’s worth skyrocketed almost 6,800%, briefly hitting $3.16 in early buying and selling and receiving a $3 billion market cap from trackers. Nevertheless, following its meteoric surge, the token’s worth tumbled under $1, sparking widespread doubt concerning the sustainability of celebrity-backed, centralized crypto tasks, which are sometimes criticized as “pump-and-dump” schemes.
YZY Cash, a Solana-based memecoin tied to Ye, is a part of his broader YZY ecosystem, which additionally consists of the YZY token, a Ye Pay transaction processor, and a YZY Card for spending YZY and USDC globally. Initially, 70% of the token provide was slated for Ye, 10% for liquidity, and 20% for a public sale; nonetheless, later stories revealed that he controls a staggering 87% of the overall provide, a focus that fueled wild value swings and drew criticism.
Insiders declare that the YZY Token’s allocation structure was modeled after Donald Trump’s TRUMP token, which reportedly impressed Ye’s entry into crypto. The transfer has stirred controversy, particularly given Ye’s previous assertion that “cash prey on the followers with hype.”
Market consultants proceed to warn concerning the risks of celebrity-backed tokens, which have the potential to distort market habits by means of manipulative ways like pump-and-dump schemes. Atypical traders usually find yourself paying the worth when main holders situation dramatic sell-offs. Ye’s $30 million infusion into liquidity swimming pools has raised questions on market integrity and the moral obligations of these main the ship.
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