In a shocking twist for both the music and crypto worlds, Kanye West has launched a meme cryptocurrency called $YZY. While celebrity-backed coins aren’t new, $YZY has taken the concept to a new level—pumping over 6800% in just hours before crashing 70% in a sudden wipeout.
After 7 hours of deep research, the mechanics behind the coin’s meteoric rise and catastrophic fall have been revealed, painting a clear picture of a classic pump-and-dump scheme.
The Rise of $YZY
$YZY was hyped on social media by Kanye himself and various influencers. Within hours of launch, investors flocked to the coin, driving its price up nearly 70x. The excitement was fueled by:
Celebrity endorsements
Viral marketing on platforms like Twitter and TikTok
Limited supply and “exclusive” NFT-style hype
This frenzy created an illusion of legitimacy, convincing thousands to buy in at high prices.
The Crash
As quickly as surged, it collapsed. Early investors who sold near the top made massive profits, while latecomers faced heavy losses. Analysis of blockchain data shows:
High concentration of tokens in a few wallets
Automated sell-offs triggered by smart contract rules
Liquidity drain leading to the sharp 70% drop
These are classic signs of a pump-and-dump operation, often illegal in regulated markets.
Legal Implications
Cryptocurrency schemes like this attract attention from regulators. Given the scale and celebrity involvement, Kanye West could face:
SEC investigations for unregistered securities offerings
Fraud charges if investors can prove intentional manipulation
Asset freezes to recover lost investor funds
Historically, pump-and-dump orchestrators have faced prison sentences, fines, and permanent bans from financial markets.
Takeaways for Investors
Celebrity endorsement ≠ legitimacy – Big names do not guarantee safety.
Watch token concentration – If a few wallets hold most coins, the price can collapse instantly.
Research before investing – Check the smart contract, team credentials, and social chatter critically.
While might be a flashy headline in pop culture, it’s a stark reminder: not all that glitters in crypto is gold. The hype may be fun to watch, but it’s investors who often pay the price.