Kanye West, now known as Ye, stirred the crypto world with a series of posts on X (formerly Twitter). Among them were hints about launching his cryptocurrency and mentions of creating a blockchain.
The Tweets That Started It All
Ye's activity on X began with a retweet of Binance co-founder Changpeng 'CZ' Zhao. CZ commented on the complexity of using decentralized exchanges, and Ye followed then unfollowed him shortly after. The most controversial tweet mentioned 'Swasticoin,' which Ye claimed would list on a DEX, though it was deleted later.
Rumors of a $YZY Token
Ye hinted at launching a token, possibly named $YZY, calling existing coins fake and suggesting a release next week. The rumor spread of $YZY being Yeezy's official currency. The token's launch, set for February 20, was delayed. Ye asked for blockchain recommendations, considering Ethereum, Solana, and BNB Chain. His advisor suggested a dedicated blockchain, akin to the $TRUMP coin setup.
Is Ye Even in Control of His X Account?
The crypto community is skeptical about Ye controlling his account. Barstool Sports founder Dave Portnoy suggested it was a scam. A video posted on Ye's account further fueled suspicion, thought to be AI-generated.
Ye's $YZY venture has raised concerns and speculation about a potential 'rug pull' scheme. Given his business history and recent controversies, many doubt the project's success and warn of possible pitfalls.
