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Bombshell in the crypto world! #KANYEWEST launches token #YZY after criticizing #memecoins
West, an American rapper, record producer, fashion designer and entrepreneur, now also known as (Ye), will launch his token called YZY.
"Meme coins take advantage of fans," Ye said. He is now launching the YZY token with 70% for himself.
The vast majority of YZY tokens will be held by Ye, giving him significant control over the project.
70% of the YZY token, named after Ye's Yeezy clothing brand, will be reserved for Ye personally, with only 10% allocated for liquidity provision and 20% for investors.
Ye's foray into the world of crypto comes after years of public controversies that have put his business empire to the test. In 2022, Ye was fired by Adidas, Balenciaga, and his talent agency after making a series of anti-Semitic comments, including praising Adolf Hitler in a live interview and tweeting incendiary rhetoric about Jews and other groups.
The fallout continued this year when Ye, after calling himself a Nazi again on X, posted a t-shirt with a swastika on the Yeezy website, prompting e-commerce platform Shopify to shut down his online store.
The token, YZY, is designed to help Ye bypass platforms like Shopify that have cut ties with him in response to his hateful rhetoric.
YZY is billed as Yeezy’s official currency and will be accepted as payment on its website.
The YZY token was initially set to go on sale on Yeezy’s website on Thursday at 6 p.m., but the launch was delayed until Friday, according to a team member who asked not to be identified for fear of being publicly associated with the project.
The source close to YZY told CoinDesk that the token’s delay comes as its team mulls over whether it is still “too close to what Milei would be.”
West, an American rapper, record producer, fashion designer and entrepreneur, now also known as (Ye), will launch his token called YZY.
"Meme coins take advantage of fans," Ye said. He is now launching the YZY token with 70% for himself.
The vast majority of YZY tokens will be held by Ye, giving him significant control over the project.
70% of the YZY token, named after Ye's Yeezy clothing brand, will be reserved for Ye personally, with only 10% allocated for liquidity provision and 20% for investors.
Ye's foray into the world of crypto comes after years of public controversies that have put his business empire to the test. In 2022, Ye was fired by Adidas, Balenciaga, and his talent agency after making a series of anti-Semitic comments, including praising Adolf Hitler in a live interview and tweeting incendiary rhetoric about Jews and other groups.
The fallout continued this year when Ye, after calling himself a Nazi again on X, posted a t-shirt with a swastika on the Yeezy website, prompting e-commerce platform Shopify to shut down his online store.
The token, YZY, is designed to help Ye bypass platforms like Shopify that have cut ties with him in response to his hateful rhetoric.
YZY is billed as Yeezy’s official currency and will be accepted as payment on its website.
The YZY token was initially set to go on sale on Yeezy’s website on Thursday at 6 p.m., but the launch was delayed until Friday, according to a team member who asked not to be identified for fear of being publicly associated with the project.
The source close to YZY told CoinDesk that the token’s delay comes as its team mulls over whether it is still “too close to what Milei would be.”
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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