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Rapper and entrepreneur Kanye West, now known as Ye, has launched YZY, a Solana-based meme coin that briefly reached a $3 billion market cap before crashing. The token’s rollout has sparked controversy over alleged insider activity and liquidity concerns. Despite the skepticism, YZY quickly gained listings on major exchanges and introduced additional crypto products.
- YZY's market cap briefly hit $3 billion before crashing over 66% to under $1.00, with a 54% drop in the last 24 hours.
- 90% of YZY's supply is concentrated in six wallets, raising concerns about insider activity and market manipulation.
- Ye introduced additional crypto products, including Ye Pay for payments and YZY Card for spending in YZY and USDC.
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