Ye Launches YZY Cryptocurrency with 70% Ownership Reserved for Himself

Kanye West, now known as Ye, is launching a cryptocurrency called YZY to support his business operations and avoid traditional platforms after losing partnerships with major brands. Key points include:

  • YZY token named after Yeezy clothing line
  • Ownership structure: 70% reserved for Ye, 10% for liquidity, 20% for investors
  • Launch was delayed from February 20 to today
  • Ye's crypto venture parallels Donald Trump's launch of the TRUMP meme coin
  • Initial intent for 80% ownership reduced to 70%
  • YZY's success depends on market reception amid skepticism about meme coins
  • Concerns over centralized ownership and potential price volatility if Ye cashes out
  • Previous celebrity-backed tokens have often faced price drops

The outcome of YZY will determine its viability in a competitive landscape of celebrity tokens.