Rapper and designer Ye, better known as Kanye West, is set to launch his own cryptocurrency token, YZY, despite his past criticism of crypto projects and ongoing controversy over his public statements.
Ye Plans YZY Crypto Token Despite Previous ‘Coin’ Criticism
According to multiple sources familiar with the project, 70% of the YZY token supply will be allocated directly to Ye, with only 10% set aside for liquidity and 20% for investors.
The token is designed as an official currency for fashion brand Yeezy and will be accepted as payment on its website. Ye’s move into cryptocurrency comes after a series of major job losses in recent years.
Ye was fired by Adidas, Balenciaga, and his talent agency after making anti-Semitic remarks in 2022. Most recently, he shut down his Shopify online store after calling himself a “Nazi” and selling a T-shirt with a swastika.
With mainstream platforms cutting ties, the decentralized nature of crypto offers an alternative for Ye to monetize his brand without institutional oversight.
Ye’s move into crypto comes despite his own past skepticism. Earlier this year, he dismissed crypto in a social media post, saying: “Cash is just preying on fans with hype.” He also noted that he previously turned down a $2 million offer to launch a token.
However, sources say Ye was inspired by Donald Trump’s TRUMP ($17.29) memecoin, which was launched just before the former president’s second term in office and saw significant insider ownership. Ye reportedly wanted 80% control of YZY, but negotiations were made down to 70%.
*This is not investment advice.
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