Kanye West may be quiet on the music front, but his latest business venture has stirred major controversy in financial circles. The rapper-turned-mogul has officially entered the world of cryptocurrency with the launch of his Solana-based “YZY” coin — and the rollout has been anything but stable.
According to reports from AInvest, the token debuted on August 15 as part of Kanye West wider “YZY Money” ecosystem, which also includes Ye Pay and the YZY Card. The hype was immediate: the coin’s market cap skyrocketed to $3 billion at its peak, before plummeting to just $349 million within hours.
The initial trading frenzy saw YZY’s price climb to $3.16 before crashing to $0.91 in the same day. Within 24 hours, investors endured wild swings of up to 31% per hour — creating both overnight winners and devastating losers.
Analysts have flagged concerns about supply concentration and potential market manipulation, pointing out that Yeezy Investments LLC holds the lion’s share of tokens. Skepticism also surrounds the lack of credible industry experts in leadership roles, raising questions about whether YZY can be trusted as a long-term investment.
Industry insiders were quick to compare the coin to other failed celebrity-backed cryptocurrencies, warning of a “bad risk-reward” profile and a likely repeat of pump-and-dump allegations.
Still, the launch attracted massive attention, proving that celebrity influence continues to drive curiosity in volatile markets. Whether YZY becomes a serious contender in the crypto space or another fleeting hype cycle remains to be seen.
As for Kanye West? With his history of controversy, it’s unlikely that the criticism will faze him. But fans and investors alike are watching closely to see if this is just the beginning of his crypto empire — or another short-lived experiment in Ye’s unpredictable career.
