BREAKING: Rapper Ye, formerly known as Kanye West, has just launched his new cryptocurrency, YZY Money, sending the token soaring 814% to a price of $1.86. This unexpected move marks a significant turnaround from his earlier claims that cryptocurrencies exploit fans through hype.
In a post on X, West declared, “YEEZY MONEY IS HERE. A NEW ECONOMY, BUILT ON CHAIN.” His announcement comes just months after he rejected a $2 million offer to create a cryptocurrency, expressing concerns that “coins prey on the fans with hype.”
The Solana-based token introduces a comprehensive financial ecosystem, featuring three main components: the YZY token as the native currency, Ye Pay as a low-fee crypto payment processor, and the YZY Card for global spending with YZY and USDC. This launch aims to provide a transparent and accessible alternative in the crypto space.
Additionally, West’s team implemented a unique distribution structure. They deployed 25 contract addresses to prevent sniping bots, emphasizing that this initiative puts “power back into the hands of real traders.” The token’s distribution is carefully structured, with 20% allocated to public allocation and liquidity, while 30% is controlled by Yeezy Investments LLC, featuring a three-month cliff and a 24-month vesting period.
This launch aligns with a broader recovery in the cryptocurrency market. Bitcoin (BTC/USD) is currently trading at $114,093, and Solana (SOL/USD) has risen by 4.89% to $187.07. Market sentiment has shifted from “Fear” to “Neutral,” according to the latest Crypto Fear & Greed Index, indicating a potential resurgence in investor confidence.
While celebrity tokens have struggled recently, with Donald Trump’s Official Trump (TRUMP/USD) and Melania Trump’s Official Melania Meme (MELANIA/USD) both losing over 80% of their value since January peaks, YZY Money is positioning itself differently. The transparent on-chain distribution aims to prevent the typical celebrity token dump scenarios.
As the crypto landscape continues to evolve, investors and fans alike will be watching closely to see how YZY Money and its associated projects unfold in the coming weeks. This launch not only reshapes West’s relationship with cryptocurrency but also signals a potentially transformative moment for the broader market.
Stay tuned for updates as this story develops.
