21 February 2025
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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.