Key Takeaways
- Ye is launching a crypto token subsequent week.
- YZY token distribution reportedly offers 70% to Kanye West, elevating issues about centralization.
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Kanye West, now referred to as Ye, has introduced a brand new coin launching subsequent week, and has additionally acknowledged that each different coin at the moment obtainable is “pretend.”
Two weeks after a collection of controversial tweets, together with mentions of “coin” and “crypto,” and a subsequent X account deactivation, Ye returned this week and tweeted about “coin” once more on Friday.
His assertion follows an early report revealing that Ye plans to launch a crypto token known as YZY as a part of his technique to create a censorship-resistant monetary ecosystem for his model. The token goals to assist him bypass platforms which have lower ties with him because of controversies.
Stories point out Ye initially sought an 80% stake in YZY coin, in the end agreeing to 70%, with 10% for liquidity and 20% for traders; the coin will perform as his web site’s official foreign money.
The preliminary token launch, initially scheduled for Thursday night, was pushed to Friday.
The launch follows different celebrity-backed crypto ventures, together with Donald Trump’s TRUMP meme coin.
Argentina’s President Javier Milei lately endorsed the LIBRA meme coin, leading to a swift and dramatic collapse.
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