Kanye West, also known as Ye, released a new token called YZY on the Solana
The coin climbed to a market value of $3 billion within 40 minutes of launch, but dropped back to about $1.05 billion, according to Nansen.
The token was promoted by Ye on X, where he posted the contract address and linked to the Yeezy Money website. The site calls YZY “a new economy, built on chain” and presents it as the currency for transactions inside its system, “YZY Money”.
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The launch came with several warnings. The website says users in restricted countries cannot access it and highlights the risk of losing all invested funds. In February, Ye had warned that he once turned down $2 million to back a scam.
Developers used an unusual setup by creating 25 contract addresses and randomly choosing one as the official token. The goal was to make it harder for bots to grab coins instantly at launch.
Still, Lookonchain reported that only YZY tokens were added to the liquidity pool, which means the team could adjust supply and sell at will.
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Recently, Wyoming officially introduced its own state-issued stablecoin, the Frontier Stable Token (FRNT). What did the government say about the launch? Read the full story.
