Kanye West, also known as Ye, stirred excitement in the crypto community with several posts on X (formerly Twitter), hinting at launching his own memecoin and blockchain.
The Tweets That Started It All
Ye's activity on X started with a retweet of Binance co-founder Changpeng 'CZ' Zhao, where CZ mentioned challenges with decentralized exchanges (DEXs). Ye followed and unfollowed CZ shortly after. The most controversial tweet included the name 'Swasticoin', which Ye claimed would be listed on a DEX, though the tweet was later deleted. Ye expressed frustration over not being able to contact CZ: 'Wait, why all these n----- H------ J--- & f----- won’t gimme CZ number?' CZ simply replied: 'DM’ed you.' This exchange led to speculation that Ye might be preparing to launch his own cryptocurrency on Binance or another blockchain network.
Rumors of a $YZY Token
Further speculation arose when Ye tweeted: 'All current coins are fake. I’m launching next week,' which led to rumors of a crypto called $YZY tied to his Yeezy brand. According to a CoinDesk report, $YZY was to be the official currency for Yeezy’s website, allowing fans to purchase products directly. Originally set to launch on February 20, the token was delayed. Crypto enthusiasts suggested networks like Ethereum, Solana, and BNB Chain. However, Ye seemed confused and asked his followers for recommendations. In a surprising twist, Ye mentioned the possibility of launching his own blockchain instead of just a token.
Is Ye Even in Control of His X Account?
Skepticism surrounds Ye's involvement in the crypto plan. Some suspect his X account is compromised. Barstool Sports founder Dave Portnoy expressed skepticism: 'There is 0.0 shot Heil Kanye is running his account. It is the scammers planning the rug.' Doubts grew when Ye's account posted a video of him speaking, though users speculated it was a deepfake or AI-generated rather than genuine.
Despite the excitement, the potential launch of $YZY raises concerns. Ye’s erratic business history and token centralization have many questioning whether this could be another celebrity-backed cash grab. With past celebrity token failures in mind, many wonder whether Ye's project will be any different—or follow the same pattern of hype, speculation, and collapse.
