Kanye’s New Memecoin: Is This the Future or Just Another Bad Idea?

by

So, guess what? Rapper Ye, formerly known as Kanye West (because who doesn’t love a good rebranding?), is apparently cooking up his very own memecoin called YZY. Yes, you heard that right. A coin. For his Yeezy clothing line. Because why not? 💸

According to a juicy little tidbit from Coindesk (who, by the way, are like the gossip queens of the crypto world), this whole thing was leaked via an email from some dude named Hussein Lalani, who claims to be the CFO of Yeezy. I mean, if you’re going to drop a bombshell, at least make sure your title sounds impressive, right? 📧

Now, here’s the kicker: Lalani sent over a document that was supposed to be under wraps, but Coindesk was like, “Nah, we’re spilling the tea!” And guess what? They verified it with three mysterious sources. Sounds legit, right? 🙄

Originally, the grand launch was set for Thursday, but surprise, surprise, it’s been pushed to Friday. Because who doesn’t love a good delay? It’s like waiting for your favorite show to drop a new season. Just give us the goods already! 📅

According to the leaked press release (which sounds like something out of a spy movie), 70% of the YZY tokens are going straight to Ye. That’s right, folks, he’s keeping the lion’s share. The remaining 30%? Well, 10% is for liquidity (whatever that means), and 20% is for investors. But don’t worry, Ye’s coins will be locked up for up to 12 months. So, it’s like a crypto prison. 🏦

Now, why is Ye doing this? Apparently, he’s trying to rebuild his income after losing partnerships with brands like Adidas and Shopify. You know, the usual fallout from making antisemitic comments. It’s like a bad breakup, but with more money involved. 💔

He even hinted at launching a coin when he tried to slide into Coinbase CEO Brian Armstrong’s DMs. But then he backtracked, saying he wasn’t launching anything because “Coins prey on the fans with hype.” Oh, the irony! 🙃

Read More

2025-02-21 14:46