US EditionKanye West’s YZY Token Launches With ‘Class Action Waiver’
YZY token reached $3 billion market cap in 40 minutes but dropped over 90% amid concerns 94% of tokens were held by insiders, causing significant trader losses.
- On Wednesday, Kanye West launched the YZY token on the Solana blockchain, which surged to a $3 billion market cap within 40 minutes before falling back toward about $1 billion during the same session.
- Analysts noted insiders held about 94% of supply, with tokenomics allocating 20% to the public, 10% to liquidity, and Yeezy Investments LLC holding the remaining 70%.
- Lookonchain reported developers created 25 contract addresses, randomly selecting one as official, with one paying a 129 SOL priority fee; only YZY tokens entered liquidity pools, and Wallet 6MNWV8 gained pre-release access.
- The episode underscored how celebrity memecoins like YZY reveal volatility and insider-driven pump-and-dump risks, while the Solana network faced true TPS of 2,300 and the project included a class action waiver.
21 Articles
21 Articles
Kanye Goes Crypto: Launches Memecoin That Soars to $3 Billion, Drops Under $1 Billion: Critics Question Pump and Dump Scheme - Showbiz411
Critics are already question whether Kanye West’s memecoin is a pump and dump scheme. The coin, called YZY, soared to $3 billion value, then immediately crashed to around $1 billion. It fell under $1 billion briefly this morning before climbing back to that level again. For West, this could be a get rich quick scheme. […] The post Kanye Goes Crypto: Launches Memecoin That Soars to $3 Billion, Drops Under $1 Billion: Critics Question Pump and Dum…
Kanye West’s YZY Token Launches With ‘Class Action Waiver’
Controversial personality Kanye West is the latest celebrity to launch a crypto token. West’s YZY token debuted on Solana late on Wednesday, and surged 881% in just 10 minutes. YZY briefly hit a market cap of $3 billion before falling to $1.1 billion shortly after midnight. Onchain wallet tracker Lookonchain highlighted that only YZY was added to the liquidity pool with no USDC, and flagged a risk that the developer could remove all liquidity. “…
$YZY Falls After A Major Pump Of $3B, Faces Insider Trading Allegations
Rapper Kanye West’s recently launched meme token, “YZY,” has gained significant attention after its rapid rise and fall. As per the market data, $YZY massively rose to $3B in market cap within forty minutes of its launch, but shortly after, a huge plunge in its value raised market-wide concerns. In this respect, the market onlookers have highlighted substantial risk concerning $YZY’s trading. Nonetheless, whether this slump deepens or leads to a…
Kanye’s YZY Coin Sparks Crypto Frenzy and Fraud Fears
Kanye West’s foray into the cryptocurrency world with the launch of his official memecoin, YZY, on the Solana blockchain has sparked a mix of excitement and concern within the crypto community. The token’s volatile price action and the surrounding controversies have raised eyebrows and prompted investors to tread cautiously. The memecoin’s initial surge to a $3.1… Source
Kanye West drops a Memecoin (YZY), pumps to $3 Billion before dumping amid insider drama
Kanye West, now known as Ye, is never far from controversy and has now ventured into the wild world of cryptocurrency with the launch of his own memecoin, YZY. Announced via a post on X, the coin promised a fresh take on finance built around his Yeezy brand. But within hours, it became one of […] The post Kanye West drops a Memecoin (YZY), pumps to $3 Billion before dumping amid insider drama appeared first on techAU.
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