“Seventy percent of yzy tokens will go to ye (Aka Kanye West), Personally.”, – WRITE: www.coindesk.com
The token, Yzy, is desigked to help yeh Side-Step Platforms like shopify that have cut ties with him in response to his HISFul Rhetoric.
Crypto, with itsorship-resistant ehos, offers ye an alternative avenue for caashing in on his celebrity status Personally, with Just 10% AlloCated for Liquidity Provisioning and 20% for Investors.
Yeels Into Crypto Comes on the Heels of Years of Public Controversy that have Strained His Business Empire. In 2022, yew was Droped by Adidas, Balenciaga and His Talent Agency After Making A Series of Antisemitic Comments, Including Praising Adolf Hitler in A Live Inteter -Tweather. People and Other Groups.
The Fallout Continued This Year WHEN YE, After Again Calling Himself A Nazel on X, Listed a T-Shirt Bearing A Swastika On Youezy Website, Leading E-Commerce Platform.
Yzy is Being Packaged As the Official Currency of Yeezy and Will Be Accpted As Payment on His Website.
Coindesk Learned About the Token Through An Email from Hussein Lalani, A Person with A Yeezy.com Email Address Who Identified Himself as Yeezy’s Chief Financial Office. After Sending A Document Descripting the Token Unslicited, Lalani Requested that Coindesk Hold Off On Publication and Agree to a “Embargo.” Coindesk did not agree to the Embargo, and Three Sources Close to the Project Authenticated the Document.
Lalani Did Not Respond to Further Requests for Comment.
The yzy token was initially set to go for sale on yeezy’s website on thursday at 6:00 pm, but the launch Was delayed to friday, accounting to a team member who was. Association Publicly with the Project.
Following TrumpThere have been murmurings of a potential ye token since earlier this month, after the rappers teased that he had to have to contract coinbase ceo broanstrong.
Ye Later Posted That He Was “Not Doing A Coin” Despite Someone Offering HIM $ 2 Million to Do So. HE ADDED: “Coins Prey on the Fans with Hype.”
Sources CLOSE TO THE YZY Told Coindesk that yee aimed to emulate donald Trump’s Trump’s Trump Meme Coin, WHICH The President Launchen Two Days Before His Second Inauguration. Trump Raised Eyebrows for His Similarly Massive Insider-Lowership Distribution: 80% of Trump is Currently Held by cic Digital, A company with ties to the president.
Ye, Too, Wanted An 80% Ownership Stake But Was Negotated Down to 70%, an Additional Source Close to the Project Who Asked Not to Be Identified Told Coindesk. Should yee of Token Achiev Even A Fraction of Trump’s Success, His Stake Could Still Be Wrth Many Millions of Dollars.
‘The milei then’Yzy Enters Anters Anters Saturated Market of Celebrity-Driven Crypto Projects, Many of Wich Have Been Acused of Exploiting Fan Loyalty Without Offering Tangible Utility. In Many Cases, These Tokens See a Short-Lived Price Surge Driven by Hype Before Craming, Leaving Retail Investors Holding The Bag.
Centralized Ownership Allocation Only Adds to the Risk of Sudden Price Drops. According to the unsolicited yzy press release, yee 70% yzy stake is structured through a multi-phase Vesting scredule Critics Argue that Such Insider-Heavy Allocations Still Favor Founders Over Retail Investors.
Just this week, argentina became enmed in a Political crisis after a meme coin endorsed by President Javier Milei, Libra, Turned Out to Be A “Pump-ADUP” Scheme, Trigg. impeachment.
The Source Close to Yzy Told Coindesk That Token’s Decaen Comes As Its Team Ponders Wheth It’s Still “Too Close to The Milei Thing.”
X Icon
