August 22, 2025
Ye adds his name to the expanding roster of celebrity-backed digital currencies.
Ye is throwing his hat into the digital currency space with the launch of his own cryptocurrency, the YZY Token.
Taking to X on Aug. 20, Ye unveiled his new Yeezy Money platform and YZY Token memecoin, which launched with massive gains before being accused of insider trading.
“YEEZY MONEY IS HERE,” Ye wrote over a screenshot of a text message. “A NEW ECONOMY, BUILT ON CHAIN.”
He followed up with a short video announcing the official Yeezy Token, along with another link to its website. Soon after, however, a community note flagged the launch with concerns of insider trading.
“Worth noting that Mikey Shelton, a developer behind this token, has openly bragged about insider trading of it on his Instagram,” the message states.
After the announcement, the token’s value skyrocketed nearly 6,800%, briefly hitting $3.16 in early trading and receiving a $3 billion market cap from trackers. However, following its meteoric surge, the token’s value tumbled below $1, sparking widespread doubt about the sustainability of celebrity-backed, centralized crypto projects, which are often criticized as “pump-and-dump” schemes.
YZY Money, a Solana-based memecoin tied to Ye, is part of his broader YZY ecosystem, which also includes the YZY token, a Ye Pay transaction processor, and a YZY Card for spending YZY and USDC globally. Initially, 70% of the token supply was slated for Ye, 10% for liquidity, and 20% for a public sale; however, later reports revealed that he controls a staggering 87% of the total supply, a concentration that fueled wild price swings and drew criticism.
Insiders claim that the YZY Token’s allocation structure was modeled after Donald Trump’s TRUMP token, which reportedly inspired Ye’s entry into crypto. The move has stirred controversy, especially given Ye’s past statement that “coins prey on the fans with hype.”
Market experts continue to warn about the dangers of celebrity-backed tokens, which have the potential to distort market behavior through manipulative tactics like pump-and-dump schemes. Ordinary investors typically end up paying the price when major holders issue dramatic sell-offs. Ye’s $30 million infusion into liquidity pools has raised questions about market integrity and the ethical responsibilities of those leading the ship.
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