Rapper Ye, formerly known as Kanye West, announced the launch of YZY Money on Wednesday, marking a dramatic reversal from his February stance against celebrity meme coins.
The rapper posted on X: “YEEZY MONEY IS HERE. A NEW ECONOMY, BUILT ON CHAIN.”
West Reverses Previous Crypto Stance
The Solana-based token (YZY) surged 814% to $1.86, according to CoinMarketCap data. West’s pivot comes despite previously rejecting a $2 million offer to launch a cryptocurrency, stating, “coins prey on the fans with hype.”
Comprehensive Financial Ecosystem
YZY Money represents more than a simple meme coin launch. The project introduces three integrated components: YZY token as the native currency, Ye Pay as a low-fee crypto payment processor, and YZY Card for global spending of YZY and USDC.
The contract address trades on Meteora’s Solana platform, according to the website. West’s team deployed 25 contract addresses with random selection to combat sniping bots, putting “power back into the hands of real traders.”
Token Distribution Structure
YZY features a structured vesting schedule using the Jupiter Lock protocol. Public allocation holds 20% of the supply, with 20% allocated to liquidity. Yeezy Investments LLC controls 30% with a three-month cliff and a 24-month vesting period.
Additional tranches include 30% with six-month cliff periods and 20% with 12-month cliffs, all following 24-month vesting schedules. The transparent on-chain distribution aims to prevent typical celebrity token dump scenarios.
Market Context Amid Crypto Recovery
The launch coincides with the broader cryptocurrency market recovery. Bitcoin (CRYPTO: BTC) traded at $114,093, while Solana (CRYPTO: SOL) gained 4.89% to $187.07. Market sentiment shifted from “Fear” to “Neutral” according to the Crypto Fear & Greed Index.
Celebrity tokens like President Donald Trump‘s Official Trump (CRYPTO: TRUMP) and first lady Melania Trump‘s Official Melania Meme (CRYPTO: MELANIA) both have lost over 80% of their value since January peaks, according to data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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