Kanye West is Launching His Token Despite Past Criticism
Kanye West (now known as Ye) denies any involvement with the Yzy token circulating in the market and asserts that he will introduce his own cryptocurrency next week.
This claim comes after any previous interest in digital assets, adding to his speculation about his cryptocurrency stance, which adds a new twist.
Kanye West says the existing yzy token is fake
In a February 22 post, Ye made it clear that he had no connection to the currently circulating Yzy tokens. He stressed that all existing Using coins from his brand is illegal And reiterated his intention to launch his own cryptocurrency soon.
“All the current coins are fake. I’m going to launch next week,” Write On X.
His announcement has caused a different reaction in the cryptocurrency community. Some critics think his project might turn into another Celebrity-supported carpet pull.
Others pointed out that his latest move contradicts his earlier statements, where he was away from launching any tokens. Meanwhile, some supporters suggested that he carefully timed releases to avoid market volatility.
ETF Store president Nate Geraci warned investors that anyone who chooses to invest in Ye’s cryptocurrency should be prepared for potential losses.
“If he (Ye) initiates and you buy and loses…that’s on you. No one wants to blame. I don’t want to hear about cryptocurrency regulations, carpet pulls, scametc. This is a transfer of wealth from you to insiders. You are spinning the gamble wheel,” geracci additional.
Guess growing up around your cryptocurrency movement
Ye’s announcement follows the relevant appearance in LaunchPad Pump.Fun based on Solana. These developments have sparked his speculation that he is indeed planning to launch a token launch.
Other reports say you are actively researching the Yzy tokens associated with his Yeezy fashion brand. Publications like Coindesk allegedly received a press release from Hussein Lalani, who is said to be the chief financial officer of Yeezy, and other sources familiar with the project.
Details surrounding the token structure show that you can control 70% of the supply, 20% of which are allocated to investors, retaining 10% of liquidity. It is reported that a portion of his holdings will be subject to a one-year vesting period to prevent immediate acquisition.
While the official release date is still uncertain, speculation is still being established. From Polymarket, a decentralized prediction platform, Currently, the token has a 71% chance of debuting this month, with its circulation exceeding $18 million.
Your latest move adds unpredictable stages Celebrity and Political Meme Coins Now it plagues the entire industry. This recognized token has caused obvious confusion in the market over the past few weeks.
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