Popular American rapper Kanye aimed to fight against all the music streaming platforms that have terminated ties with him after a series of hateful and antisemitic tweets.
Kanye West is a popular American rapper, producer, and fashion designer known for his influence on hip-hop and pop culture. This American rapper has a very controversial past because of his outspoken personality and public statements.
On 21 Feb 2025, On behalf of three major sources, popular crypto media Coindesk reported that Kanye West planned to launch a meme token, called $YZY.
Reportedly, Kanye aimed to use this token’s success to fight against music streaming platforms like Shopify, which have terminated ties with him after a series of hateful and antisemitic tweets.
As per the plan, this American rapper will keep 70% of the supply of the token, with only 10% for liquidity and 20% for investors. The token purchases will be available through his official website only.
Kanye West vs Shopify
However, recently, the top music streaming platform Shopify terminated Kanye’s account, but today, they unlocked his account & gave it back to him.
In response, Kanye said that he would never use Shopify.
No one knows how long this controversy will go forward, but here it is confirmed that the birth of a new token is going to take place & obviously, it will result in nothing.
Some experts said that Kanye’s idea of launching a meme token is fully inspired by the US president’s meme token $Trump.
Kanye’s token launch was planned for Thursday of this week, but due to some reasons, it got delayed. This information came to light through an unsolicited email from someone claiming to be Yeezy’s CFO.
Meme Token Scam Offer for Kanye West
Earlier this month, Kanye disclosed that an unknown crypto project team approached him for the promotion of a new meme token.
Kanye was offered $2 million to tweet about the token. That token plan was fully based on a scam game, but thanks to Kanye, who not only denied accepting the offer but also disclosed this information publicly.
Meme Token Trend: A Scam Game
Since the beginning of 2023, the crypto industry has seen an inflow of multiple meme tokens. Nowadays, thousands of meme tokens are taking birth every day, and every big player is playing his own game, ultimately harming the top-level better use cases-based crypto projects.
In the last couple of months, many crypto meme tokens have been launched by reputed celebrities, but the majority of them resulted in a rug-pull game.
The most controversial meme token was by Argentine president Javier Milei, which caused a loss of $251 million for retail investors.
In the present time, the majority of the crypto influencers are also directly & indirectly associated with meme tokens & launching rug-pull games anonymously.
Recently, Binance’s former CEO Changpeng Zhao (CZ) shared his opinion on these meme tokens and said that the popularity of meme tokens is just proof that people are ready to invest their money; we just need to put a valuable crypto project.
Read also: Former Bybit Payroll Chief Jailed for Stealing $5.7m in Public Crypto Funds
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