Odds of Kanye West Launching Token Drop to 10% After Social Media Post
Ye, formerly known as Kanye West, stated on social media that he is “not doing a coin” and criticized cryptocurrencies for preying on fans. This announcement significantly reduced the perceived odds of him launching a token from 40% to around 10% on the prediction market Polymarket.
The reaction led to a decline in various memecoins named "Ye," with one losing over 65% of its value and another down 89% since his post, according to Dexscreener data.
Ye also mentioned he only engages in ventures he is passionate about and noted he turned down a $2 million offer to launch a token. Following his posts, he indicated interest in contacting Coinbase CEO Brian Armstrong.