Oh, Kanye… Sorry — Ye.
The man who once called memecoins a scam for “preying on fans” just did the exact thing he warned us about. And, surprise surprise, it turned into a chaotic, billion-dollar rollercoaster that has crypto Twitter screaming, investors crying, and the rest of us just… laughing.
Just a few months after declaring that memecoins are “hype traps” and trashing celebrity-backed tokens, Ye went ahead and launched his very own Solana-based memecoin — YZY —, promising a “new era of wealth creation” for his fans.
Because nothing says financial wisdom like doing the exact thing you publicly trashed five minutes ago.
And honestly? The whole thing has been hilarious to watch unravel.
From anti-memecoin Prophet to memecoin Messiah
At launch, the hype machine did its job. Within hours, the YZY coin went full turbo, skyrocketing to a jaw-dropping $3 billion market cap in hours. Fans piled in, crypto bros cheered and Ye probably wrote down “crypto genius” next to “Grammy winner” on his résumé.
People were already fantasizing about buying Yeezy sneakers with their gains.
But then reality (or maybe just basic math) kicked in. By the end of the day, the token had lost two-thirds of its value and the panic selling began.
In less than a week, it crashed more than 80%. Billions evaporated like Ye’s last tweet before he blames something for the chaos.
And sure enough, he did…
From $3 billion to “Oops, my Instagram got hacked”
Once the crash hit and the backlash started, Ye suddenly claimed his Instagram was hacked, saying the original token promotion was fake and that the “real” YZY token was tied to a new wallet and a different account.
Because yes, the best time to make that distinction is obviously after the losses.
Crypto analysts weren’t buying it.
As one trader put it: “This is the oldest trick in the scam book— ‘Oh no, my account was hacked!’“
Meanwhile, the token kept tanking, leaving a trail of bagholders wondering how they got memed so hard.
Community reactions: brutal but hilarious
Crypto Twitter had a field day:
“Kanye just speedran the scamcoin playbook.”
“We told you, but you didn’t listen. Now you’re holding the Yeezy bag.”
“Imagine explaining to your kids you lost their college fund to Kanye West’s feelings.”
Even hardcore Ye fans are split: some blaming shadowy hackers, others calling it a blatant rug pull.
The tokenomics were a walking red flag
Let’s be real: this thing screamed scam from the start.
Turns out, 94% of the supply was held by insiders at one point, with one wallet controlling 87% before quietly “spreading it around”. On-chain sleuths quickly discovered that, apparently, Yeezy Investments LLC itself held 70%.
Translation: This was less of a community-driven token and more of a “thanks for the money, folks” token.
Crypto analysts started tossing around the term rug pull faster than Ye could drop another gospel album.
So yeah — classic insider-heavy setup. But hey, who needs decentralization when you’ve got Ye, right?
The bigger picture
Beyond the laughs, this fiasco highlights some serious issues:
- Crypto lesson 101: If a token is 90% owned by insiders, it’s not an investment. It’s a donation.
- Regulatory storm incoming: This high-profile mess is likely to give regulators more ammo to crack down on unregistered celebrity-backed tokens.
- Celebrity memecoins = hazard: From Floyd Mayweather to Kim Kardashian, celebrity-backed tokens have a terrible track record. YZY is just the latest disaster.
A crash course in celebrity memecoin chaos
If this whole thing sounds familiar, it’s because celebrity-backed tokens have a stellar track record of ending badly. Just ask the fans who bought into EthereumMax after certain Kardashians hyped it up.
The YZY fiasco will probably go down in the same hall of fame:
- The launch hype? Unreal.
- The insider wallet activity? Questionable.
- The crash? Predictable.
- The hack excuse? CHEF’S KISS COMEDY!
What we learned (while laughing)
There’s a lesson here, but honestly? The whole thing is just peak 2025 chaos. Ye said memecoins were scams… then made one. Fans jumped in, the market tanked and now everyone’s either crying or laughing.
Memecoins live and die by hype. And when the hype’s tied to a celebrity as unpredictable as Ye? Buckle up!
Fans = liquidity. Every time a celebrity launches a token, fans get emotionally attached (and often financially burned).
Crypto still needs rules. Because apparently, insider-controlled meme tokens with zero accountability are still totally legal.
What’s next for YZY?
Right now, YZY is somewhere between a joke and a cautionary tale. Ye claims he’s moving forward with the “real” version of the token, while everyone else is side-eyeing their wallets and wondering how they fell for this in the first place.
As for the rest of us?
We’re grabbing popcorn, because if there’s one thing Ye’s gonna give us, it’s drama.
