U.S. hip-hop artist Ye – still widely known as Kanye West – has unexpectedly entered the cryptocurrency space with a Solana-based token called Yeezy Money (YZY), according to The Block.
West announced the project Wednesday through his X account, posting the coin’s contract address and linking to a site where YZY can be bought, sold, or transferred. Early trading data from GMGN.Ai suggests the token has already reached a market capitalization of about $2 billion.
The official website describes YZY Money as a decentralized initiative intended to “put users in control” and free them from centralized systems. Alongside the token, the site outlines plans for a YZY ecosystem that includes Ye Pay, a payment processor for both crypto and credit cards, and a branded credit product.
Despite this, the disclaimer emphasizes that YZY should be seen as a symbolic project rather than a formal investment vehicle.
The move contrasts with West’s earlier position. Just months ago, he dismissed memecoins as exploitative and claimed he had turned down offers to front a fake “Ye” coin for $2 million.
That reversal, combined with his history of erratic social media posts, fueled doubts among X users who questioned whether his account had been hacked. Yet, references to YZY appearing on West’s official website and online shop lend weight to the idea that the venture is genuine.
Blockchain analysts have already flagged suspicious trading patterns. Lookonchain reported that insider wallets purchased YZY before launch, with one wallet alone pocketing over $1.5 million in profits.
Whether Yeezy Money proves to be a serious blockchain project or just another celebrity experiment, its debut has reignited debate over the risks and hype surrounding celebrity-driven crypto tokens.
