Key Takeaways
- Ye is launching a crypto token subsequent week.
- YZY token distribution reportedly offers 70% to Kanye West, elevating considerations about centralization.
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Kanye West, now often called Ye, has introduced a brand new coin launching subsequent week, and has additionally said that each different coin presently out there 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 as a consequence of controversies.
Studies 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 operate as his web site’s official forex.
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 just lately endorsed the LIBRA meme coin, leading to a swift and dramatic collapse.
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