Is Kanye West Launching his Memecoin?

Kanye West, now known as Ye, caused a stir in the crypto world over the weekend with a flurry of posts on X (formerly Twitter). Among them, he hinted at launching his own memecoin and even mentioned plans for a blockchain. 

But was this Ye himself, or was his account compromised?

The Tweets That Started It All

Ye’s activity on X began with a retweet of Binance co-founder Changpeng “CZ” Zhao, where CZ commented on how decentralized exchanges (DEXs) can be difficult to use. Ye then followed CZ—only to unfollow him shortly after.

However, the most controversial moment came when Ye dropped the name "Swasticoin" in a tweet. He claimed he would list it on a DEX. Though the tweet was later deleted.

In another post, Ye expressed frustration over not being able to contact CZ:

"Wait, why all these n----- H------ J--- & f----- won’t gimme CZ number?"

CZ responded simply: "DM’ed you."

This exchange fueled speculation that Ye might be preparing to launch a cryptocurrency—possibly a memecoin—on Binance or another blockchain network.

Rumors of a $YZY Token

Adding to the speculation, Ye tweeted:

"All current coins are fake. I’m launching next week"

This led to widespread rumors of an upcoming cryptocurrency, potentially called $YZY, tied to his Yeezy brand. Ye deleted the tweet as well.

According to a report from CoinDesk on Fweb. 21, $YZY was designed to be the official currency for Yeezy’s website, allowing fans to purchase products directly.

Per reports, the token was originally set to launch on February 20 but was delayed. Crypto enthusiasts flooded Ye’s replies, suggesting different blockchain networks such as Ethereum, Solana, and BNB Chain. However, Ye appeared confused and asked his followers for recommendations.

In a surprising twist, Ye mentioned that instead of simply launching a token, he was considering launching his own blockchain. Sources suggest he is weighing options like forking Solana or Dogecoin to create a dedicated Kanye blockchain.

His advisor allegedly suggested this move to give him more control, similar to how Donald Trump’s $TRUMP coin has a structured supply allocation benefiting insiders.

Is Ye Even in Control of His X Account?

Many in the crypto community are skeptical about Ye's involvement. There is some speculation that Ye’s X account is compromised. Dave Portnoy, the founder of Barstool Sports, stated:

“There is 0.0 shot Heil Kanye is running his account. It is the scammers planning the rug.”

The uncertainty grew when Ye’s account posted a video of him speaking. However, many users suspected it was a deepfake or AI-generated clip rather than a genuine recording.

Concerns of a ‘Rug Pull’

Despite the excitement, the potential launch of $YZY has raised major red flags. Ye’s erratic history with business ventures, coupled with the centralization of token ownership, has led many to warn that this could be another celebrity-backed cash grab.

Reports indicate that Ye’s team wanted to retain 70% of the token supply, leaving only 10% for liquidity and 20% for investors. This closely mirrors Trump’s $TRUMP token, where 80% of the supply was held by insiders.

Critics argue that such a structure favors early investors and insiders, often leaving regular buyers with losses once the hype fades.

Ye’s potential crypto venture comes at a time when celebrity-backed tokens have faced significant failures:

• $LIBRA (endorsed by Argentina’s President Javier Milei) collapsed in a pump-and-dump scam.

• $BABY (DaBaby’s coin) saw a 33% price crash within minutes after launch.

• $TRUMP, while still trading, has been criticized for its insider-heavy token distribution.

Given these past failures, many are questioning whether Ye’s project will be any different—or if it will follow the same pattern of hype, speculation, and inevitable collapse.

Ye’s move into crypto comes amid ongoing controversy and business struggles.

• In 2022, he was dropped by Adidas, Balenciaga, and his talent agency after making antisemitic remarks.

• He recently listed a T-shirt with a swastika on his Yeezy website, leading Shopify to shut down his store.

• On X, he declared “I’m no longer a Nazi”, seemingly attempting to backtrack on his past statements.

His volatile behavior and history of abrupt business decisions make it unclear whether $YZY is a serious long-term project or just another chaotic chapter in his career.