Kanye West, now known as Ye, has denied any involvement with the YZY tokens circulating on the market, claiming that he will introduce his own cryptocurrency next week.
The statement comes after he previously dismissed any interest in digital assets, adding a new dimension to speculation surrounding his stance on cryptocurrencies.
Kanye West Says Current YZY Tokens Are Fake
In a post on February 22, 2025, Ye clarified that he has no involvement with the YZY tokens currently in circulation. He stressed that all coins using his brand are illegal and reaffirmed his intention to launch his own cryptocurrency soon.
“All the coins right now are fake. I will launch next week,” Ye wrote on X.
His announcement has sparked mixed reactions in the cryptocurrency community, with some critics believing his project could turn into another celebrity-backed scam .
Others pointed out that his latest move contradicts his previous statement, where he distanced himself from launching any token. Meanwhile, some supporters advised him to choose the launch timing carefully to avoid market volatility.
Nate Geraci, President of ETF Store, issued a warning to investors, saying that anyone choosing to invest in Ye’s cryptocurrency should be prepared for potential losses.
“If he (Ye) launches and you buy & lose…it’s your fault. No one to blame. I don’t want to hear about crypto regulation, scams, etc. It’s a transfer of wealth from you to the insiders. You’re spinning a broken roulette wheel,” Geraci added .
Speculation mounts around Ye’s crypto moves
Ye’s announcement comes after reports of multiple YZY-branded tokens appearing on Solana-based startup Pump.fun, which has sparked speculation that he is indeed planning to launch a token.
YZY themed tokens. Source: DEXScreener
Other reports suggest that Ye is actively working on a YZY token associated with his Yeezy fashion brand. Publications such as CoinDesk reportedly received press releases from Hussein Lalani, who is said to be Yeezy’s CFO, along with other sources familiar with the project.
Details surrounding the token’s structure suggest that Ye may control 70% of the supply, with 20% allocated to investors and 10% reserved for liquidity. A portion of his stake is said to be locked for a year, preventing immediate access.
While the official launch date remains uncertain, speculation continues to mount. Data from Polymarket, a decentralized prediction platform, currently shows a 71% chance of the token launching this month, with over $18 million already staked on its release.
Possibility of Kanye West launching a token. Source: Polymarket
Ye’s latest move adds to the unpredictable phase of celebrity and political meme coins that are currently disrupting the industry. Such backed tokens have caused significant market turmoil in recent weeks.
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