Мем-токен YZY от Канье Уэста потерял 60%, а его связь с LIBRA вызывает вопросы Headline: Kanye Wests Meme Token YZY Plummets 60%, Sparking Questions About Its Link to LIBRA

On August 21, rapper Ye (Kanye West) introduced his own meme token, YZY MONEY (YZY). Just three hours after trading began, the asset plummeted by 60%.

At its peak, the token’s fully diluted valuation (FDV) surpassed $3 billion, but as of this writing, it has dropped to $1 billion.

YZY operates on the Solana blockchain, with a total supply of 1 billion tokens and a circulating supply of 300 million.

Additionally, the YZY Money ecosystem was unveiled, which features Ye Pay and the YZY Card — a payment system and bank card designed for use by external merchants for payment processing. The card supports payments in YZY and the stablecoin USDC.

Customers can already use the YZY Card to purchase items on the rapper’s website.

«In the coming days, we will begin implementing features for YZY users. We are developing very innovative projects in the short term that will become even more effective in the long term,» as stated on the token’s page on X.

Rumors about Ye’s token launch had surfaced in February when posts about the coin appeared on the musician’s page but soon vanished. The rapper publicly denied any involvement in that situation.

An on-chain analyst known as Dethective pointed out the activity of «snipe» traders. He noted that one wallet purchased YZY for $250,000 at a rate of approximately $0.20 and made around $1 million in profit after selling it just eight minutes later.

Moreover, the «snipe» address is connected to the LIBRA token. In both instances, the coins purchased at launch were transferred to the same wallet for storage.

In total, affiliated addresses earned $23 million from LIBRA and YZY.

«We cannot confirm whether the user is Hayden Davis. However, we can be certain that this individual possesses insider information. Evidence of this is that they did not snipe any tokens other than YZY and LIBRA,» noted Dethective.

It is worth mentioning that in June, Argentina’s anti-corruption agency cleared President Javier Milei of ethics violations related to the promotion of LIBRA.