The YZY token reaches $3B before collapsing over centralization concerns
Fri Aug 22 2025 ▪ 4 min read ▪ by Pineda
Get informed ▪ Altcoins
Rapper Kanye West, now known as Ye, entered the cryptocurrency market with a big impact after launching his YZY token on Solana. Within the first 40 minutes of its launch, the token briefly hit a market capitalization of $3 billion. But the momentum soon faded when news of internal control and suspicious business practices leaked, raising concerns among traders and analysts.
In summary
The YZY token jumped to $3B in 40 minutes, only to fall to $1.05B amid volatility concerns.
Internal control dominated the supply of YZY, raising alerts of manipulation and liquidity.
Celebrity-backed tokens face growing skepticism despite the hype and short-term gains.
Rapid rise and sharp fall
West promoted the token through his Yeezy Money website, presenting it as the foundation of a new blockchain-powered financial system. The token gained traction at a dizzying pace, attracting interest from both retail investors and whales, some of whom made massive moves with it. However, the token's market cap decreased to around $1.05 billion shortly after, illustrating the volatile nature of celebrity-backed digital currencies.
Despite warnings in the fine print about the possibility of total loss, investors rushed in. Some traders cited comparisons to the memecoin TRUMP, which quadrupled in value in 28 hours earlier this year. Leveraged trader James Wynn highlighted the appeal of liquidity and short-term gains, while reports indicated that BitMEX co-founder Arthur Hayes also bought in.
$YZY
