Kanye West’s YZY Token Hits $3B in Minutes Before Insider Sale Fears Trigger Pullback
The YZY token, launched by Kanye West (now legally Ye), experienced extreme volatility on the Solana blockchain, surging to a $3 billion market cap within 40 minutes before crashing.The collapse was followed by widespread allegations of insider manipulation, with on-chain data showing that insiders controlled as much as 94% of the token’s initial supply.The launch has been compared to other volatile celebrity memecoin projects, with some traders like BitMEX co-founder Arthur Hayes publicly engaging with the token despite its clear risks and a warning from CoinGecko.And yet another story of a celebrity memecoin being hyped up, launched, and then completely collapsing almost overnight — though this fell off in a matter of minutes.
This time our protagonist is Kanye West (now legally Ye), and...
