Kanye West, now known as Ye, stirred the crypto community with a series of posts on X. He hinted at launching his own memecoin and even a blockchain, fueling a wave of rumors and discussions.
The Tweets That Started It All
Ye’s activity on X began with a retweet of Binance's co-founder Changpeng Zhao, intriguing the community. Immediately following, Ye mentioned a potential memecoin called 'Swasticoin' that he intended to list on a decentralized exchange. This tweet was later deleted. Ye also expressed frustration over failing to contact CZ, receiving a simple response: 'DM’ed you.'
Rumors of a $YZY Token
Soon after, Ye declared that he would launch his own cryptocurrency next week, leading to rumors about $YZY, associated with his Yeezy brand. $YZY was designed as the official currency for the Yeezy website and was initially set to launch soon. However, amidst various blockchain suggestions, Ye expressed uncertainty. Sources reveal that Ye might also consider launching a blockchain.
Is Ye Even in Control of His X Account?
Some speculate if Ye actually runs his account. Dave Portnoy from Barstool Sports said that it's unlikely Ye himself is managing the account, suspecting foul play. These suspicions grew with inconsistent time zones and a questionable video of Ye that might have been AI-generated.
The potential launch of Kanye West's $YZY token raises significant concerns of a scam. Previous failures of celebrity-backed cryptocurrencies cast doubt on this project. Ye's unpredictable behavior and history leave the question open: will this become a serious initiative or just another in his series of erratic business moves?
