Overnight, US rapper and music producer Kanye West launched his own cryptocurrency "YZY Money" on the Solana blockchain. While the website outlines certain use cases for the token, YZY can be classified as a memecoin.
Half a year after the controversies surrounding the TRUMP, MELANIA, and LIBRA memecoins, rap star Kanye West announced on his X account that the official YZY token had just been launched. To confirm the authenticity of the cryptocurrency, the announcement was made through a selfie video. Barely five hours after launch, the memecoin was trading at a fully diluted valuation (FDV) of USD 1.2 billion, with only 30% of all tokens in circulation. Public reaction to the project can broadly be described as "negative."
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YZY Money: Cryptocurrency with utility or memecoin?
The extremely minimalistic website describes YZY Money as "a concept that gives you control, free from central authority." It consists of three components. The YZY cryptocurrency on the Solana blockchain is intended to serve as the currency for all transactions within YZY Money. Ye Pay is described as a crypto payment processor allowing merchants to accept both credit card and cryptocurrency payments. Lastly, the YZY Card is envisioned as a debit payment method for spending YZY and USDC at millions of merchants worldwide.
According to CVJ.CH research, neither Ye Pay nor the YZY Card can currently be used. What remains is a cryptocurrency without real utility - commonly referred to as a memecoin. This closely resembles the controversial celebrity cryptocurrencies TRUMP, MELANIA, and LIBRA and has sparked similar criticism on social media.
ye(@kanyewest) launched the $YZY token. Note:
Only $YZY was added to the liquidity pool with no $USDC.
Dev may sell $YZY by adding/removing liquidity, similar to $LIBRA.Multiple insider wallets prepared funds in advance and immediately bought $YZY.
Insider wallet 6MNWV8 knew… pic.twitter.com/qv7nsx0R4J
— Lookonchain (@lookonchain) August 21, 2025
Tokenomics of the Kanye memecoin
Currently, only 30% of all YZY tokens are in circulation. According to the website, 20% are classified as "public offering," with 10% in a Solana liquidity pool. The remaining 70% - worth around USD 840 million at today’s prices - are allocated to Yeezy Investments LLC. The company, owned by Kanye West, will receive the first 30% over two years, with vesting starting in three months. Vesting for the remaining 40% will begin in two tranches after six and twelve months respectively, also lasting two years.
The relatively weak price performance of the YZY token highlights the predominantly negative sentiment toward the project. For comparison: on their first trading day, TRUMP reached a fully diluted valuation of USD 44 billion and MELANIA USD 8 billion. Clearly, investor appetite for celebrity-driven memecoins diminishes with each new project.
