TLDR
- Kanye West (Ye) is reportedly planning to launch a memecoin called $YZY despite previous skepticism about cryptocurrency
- The token is intended to serve as the official currency for the Yeezy brand website
- 70% of tokens will be allocated to West, 20% to investors, and 10% for liquidity
- The launch was initially scheduled for February 20 but has faced delays and complications
- Investor sentiment has cooled following deleted social media posts and West’s controversial statements
Rapper Kanye West, now known as Ye, is reportedly preparing to launch his own memecoin called $YZY by the end of February 2025.
On February 22, West announced on the social media platform X that he would be launching his token the following week, warning followers that all existing versions were “fake.” This statement marked a clear shift from his position earlier in the month when he tweeted on February 9: “I’m not doing a coin. I only do things I’m passionate and knowledgeable about. Coins prey on the fans with hype.”
According to insider reports, the $YZY token is designed to function as the official currency for the Yeezy brand and website. This move appears to be partly motivated by West’s need to find alternative payment solutions after Shopify shut down his online store following allegations of anti-semitic rhetoric from the rapper.
The token’s distribution plan reportedly allocates 70% of the supply to West himself, with 20% reserved for investors and the remaining 10% dedicated to liquidity provisioning. This structure mirrors the approach taken by some popular memecoins and bears similarities to former President Donald Trump’s $TRUMP token.
West’s foray into the memecoin world has not been without complications. The launch was originally scheduled for February 20 but has been delayed multiple times. Adding to the uncertainty, West has deleted previous posts on X that referenced the token launch, including conversations with Binance founder Changpeng Zhao.
The 47-year-old artist also claimed on X that he no longer has control of his account on the platform, though some users have dismissed this as typical of West’s unpredictable online behavior. These erratic actions have dampened investor enthusiasm for the project.
Public interest in the token has also been affected by West’s controversial statements. Reports indicate that enthusiasm waned after the rapper suggested launching “Swasticoin,” a name with Nazi connotations that alarmed potential investors and fans alike.
Celeb Memcoins
The timing of West’s memecoin venture comes amid heightened celebrity and political interest in the space. Elon Musk’s father, Errol Musk, has also hinted at launching his own memecoin, while former President Donald Trump released $TRUMP in January 2025, which saw its value increase following its launch.
Despite growing skepticism, some investors remain hopeful about getting early access to the $YZY token. A betting market on Polymarket shows 36% of participants predict that West will indeed launch his coin before the end of February.
The recent price collapse of the scam $LIBRA token, falsely linked to Argentine President, has created a cautious atmosphere around celebrity-backed cryptocurrency projects. This incident has made potential investors more wary of high-profile token launches.
CZ
Zhao, the former CEO of Binance, appears to have been in contact with West regarding the memecoin. After West mentioned difficulty obtaining “CZ’s number” (likely referring to Changpeng Zhao), the former Binance executive replied “DM’ed you” on X, suggesting private discussions about the project.
That one retweet got him to 33.2m followers? wow. 🤔 https://t.co/IXz4eweQcc
— CZ 🔶 BNB (@cz_binance) February 22, 2025
If launched, the $YZY token would allow fans to purchase Yeezy products directly using the cryptocurrency. This could provide West with an alternative to traditional payment processors that have distanced themselves from him following controversies.
For now, it remains unclear whether the Kanye West memecoin will actually be released. The deleted social media posts and conflicting statements have led some crypto analysts, including Crypto Rover, to raise concerns about potential fraud risks associated with the project.
The story of $YZY continues to evolve, with West’s unpredictable social media presence making it difficult to determine the true status of the token. As the end of February approaches, all eyes are on the rapper to see if the memecoin will finally materialize as promised.
