Cryptocurrency
Kanye West’s Yeezy Coin Hits $3 Billion Market Cap Before Crashing
According to crypto tracker CoinGecko, YZY launched at $2.00 per token before briefly spiking, thanks to a 6,800 percent surge, which propelled its valuation into the billions. But as quickly as it rose, it crashed—settling around $1.00 per token in less than 24 hours.
Kanye West—now officially known as Ye—has once again stunned fans and investors, this time by diving headfirst into the cryptocurrency world. On Wednesday, Aug. 20, the rapper-turned-entrepreneur announced the launch of Yeezy Money (YZY), a meme coin built on the Solana blockchain. Within hours of its debut, the coin skyrocketed to a jaw-dropping $3 billion market cap, only to nosedive shortly after.
The Launch of Yeezy Money
Kanye West revealed the token across a series of posts on X (formerly Twitter), declaring: “Yeezy money is here. A new economy, built on chain.” A follow-up video showed the artist speaking with his usual straight-faced conviction: “The official Yeezy token just dropped.”
According to crypto tracker CoinGecko, YZY launched at $2.00 per token before briefly spiking, thanks to a 6,800 percent surge, which propelled its valuation into the billions. But as quickly as it rose, it crashed—settling around $1.00 per token in less than 24 hours.
Supply and Control
Reports suggest Kanye West allegedly demanded 80 per cent of the token supply before launch, though insiders say he ultimately secured 70 per cent. The remaining distribution included 10 per cent reserved for liquidity and 20 per cent available for public sale. Critics argue this imbalance raises concerns over centralization in what Ye claims is a “decentralized economy.”
Beyond the Coin: Ye Pay and YZY Card
The Yeezy crypto ecosystem doesn’t stop with the token. Kanye West also introduced Ye Pay, a crypto payments processor pitched as a cheaper alternative to traditional platforms. The site claims Ye Pay allows merchants to accept both credit cards and crypto with fees lower than the industry standard of 3.5 per cent.
Additionally, Kanye West unveiled the YZY Card, a non-custodial debit card enabling direct crypto spending without fiat conversion. Early adopters can already join a waitlist, though no launch date has been confirmed.
Investors React to the Crash
The dramatic surge and crash mirror the volatility of other meme coins, leaving many questioning whether YZY is a bold innovation or another risky celebrity-backed gamble. While some fans celebrated Kanye West’s entry into Web3, skeptics highlighted the dangers of market manipulation, particularly given Ye’s overwhelming control of the token’s supply.
Crypto analysts warn that without transparency and sustainable use cases, hype-driven coins often collapse as fast as they rise. Still, Ye’s track record of turning unconventional ventures—whether in music, fashion, or tech—into cultural moments suggests that Yeezy Money, YZY Card may not be the last we hear of his blockchain ambitions.
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For Kanye West, YZY represents more than just another product; it’s a statement about autonomy and breaking free from traditional financial systems. Whether this vision resonates with mainstream crypto users or remains a niche experiment will depend on how quickly Yeezy Money can stabilize and whether Kanye West’s ecosystem—spanning YZY, Ye Pay, and YZY Card—delivers real-world utility.
For now, Kanye West has once again succeeded at what he does best: dominating headlines and sparking debate about the future of culture, finance, and control.
