Kanye West YZY memecoin hits $3B, but falls after insider concerns
Several well-known traders have bought the newly launched token promoted by rapper Kanye West, which pumped to over $3 billion but has since fallen back.
Rapper Kanye West’s newly launched YZY token on Solana rocketed up to $3 billion in value just 40 minutes after its launch, but concerns over insider sales dented a large portion of the gains.
In a Thursday X post, West, who officially goes by Ye, shared the contract address along with the website for Yeezy Money, which he describes as “A NEW ECONOMY, BUILT ON CHAIN.”
The website describes YZY as a currency to power transactions within “YZY MONEY,” a ”financial system built on crypto rails.”
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