Kanye West, now legally known as Ye, has launched his cryptocurrency called YZY coin on the Solana blockchain. The coin is part of a wider project known as YZY Money, which Ye says will include a payment system called Ye Pay and a branded debit card known as the YZY Card. The idea is to let people use YZY and USDC stablecoin for everyday payments with lower fees.
The announcement immediately grabbed attention. Within hours of launch, YZY coin hit a market value of nearly $3 billion as traders rushed in. But the excitement did not last. The token quickly lost almost two-thirds of its value, wiping millions of dollars in investor money.
According to blockchain analytics firm Nansen, trading volume in YZY coin passed $740 million on launch day alone, but many late buyers ended up with heavy losses. Reports suggest that a small group of wallets may have known about the launch before it was public. These early buyers purchased large amounts of YZY at low prices, then sold when the hype drove prices up, pocketing profits while others were left with losses. Analysts estimate investors lost over $20 million during the crash.
Critics also pointed out how the coin is structured. Only 20% of YZY tokens are available to the public, while a massive 70% is controlled by Yeezy Investments LLC, a Delaware company tied to West. That level of control has raised concerns about transparency and fairness.
Regulators are watching closely. Celebrity-backed tokens have faced controversy before, with sharp price swings and limited buyer protections. YZY coin’s fast rise and fall have already drawn comparisons to past “pump-and-dump” schemes.
For fans, YZY coin offers a new way to connect with Ye’s brand. For investors, it is a risky reminder that celebrity status does not guarantee a safe bet in crypto.
