Kanye West Launches Solana-Based 'YZY Money' Amid Crypto Market Recovery, Token Surges Over 800%

Kanye West has launched a Solana-based cryptocurrency called YZY Money, despite previously rejecting a $2 million offer to launch a coin. The token has surged 814% to $1.86. YZY Money represents a comprehensive financial ecosystem with three integrated components: YZY token, Ye Pay, and YZY Card. The token features a structured vesting schedule to prevent celebrity token dump scenarios. The launch coincides with the broader cryptocurrency market recovery.

Kanye West, now known as Ye, has launched a Solana-based cryptocurrency called YZY Money, despite previously rejecting a $2 million offer to launch a coin. The token has surged 814% to $1.86. YZY Money represents a comprehensive financial ecosystem with three integrated components: YZY token, Ye Pay, and YZY Card. The token features a structured vesting schedule to prevent celebrity token dump scenarios. The launch coincides with the broader cryptocurrency market recovery.

The launch of YZY Money was marked by significant volatility and allegations of insider trading. Within minutes of the token's debut, it reached a multi-billion-dollar valuation before retracing sharply. Early trading drew scrutiny, with analytics account Lookonchain alleging that the token's liquidity setup and contract addresses were manipulated to benefit insiders [1].

Several wallets appeared to have advance knowledge of the launch mechanics. Lookonchain identified wallet 6MNWV8 as having known the contract address ahead of time, even attempting to purchase it before the token went live. Once trading opened, that wallet spent 450,611 USDC to acquire 1.29 million YZY at roughly $0.35, later selling 1.04 million YZY for 1.39 million USDC and retaining 249,907 YZY (about $600,000) — a take calculated as “a profit of over $1.5M” [1].

The launch also saw a second cluster of transactions suggesting an orchestrated rush to the front of the queue. An insider spent 450,000 USDC across two wallets to buy 1.89 million YZY at $0.24, then sold 1.59 million YZY for 3.37 million USDC at $2.12, still holding ~303,425 YZY (~$510,000) [1].

Speculation spread beyond spot markets, with traders using leverage to capitalize on the token's volatility. Lookonchain noted that one trader attempted a 3x leveraged long position on YZY, losing a combined $159.6K in two failed attempts [1].

The token's value ultimately dropped below $1, with whale 6ZFnRH spending 1.55 million USDC to buy 996,453 YZY at $1.56, only to exit at $1.06 for 1.05 million USDC — a ~$500,000 loss in under two hours [1].

The launch also put Solana's network under stress, with the chain's true TPS (non-vote transactions) hitting 2,300 for the first time during the YZY debut — a new peak for real transaction throughput [1].

Beyond discrete wallet anecdotes, broader supply concentration data fanned the "insider" narrative. Coinbase's Conor Grogan pointed to on-chain snapshots suggesting at least 94% of supply sat with insiders at one point, including a single multisig with 87% before distribution — numbers that, if sustained, can magnify price impact during rebalancing or liquidity removal [1].

The project's documentation promoted anti-sniping steps, notably deploying 25 contract addresses and randomly designating one as official, but these measures did not prevent early-access behavior flagged by analysts [1].

At press time, Solana traded at $185 [1].

References:
[1] https://bitcoinist.com/kanye-west-solana-memecoin-yzy-insider-trading/
[2] https://www.ccn.com/education/crypto/yzy-money-ye-3b-memecoin-dark-truth-explained/