Kanye West’s YZY coin plunged over 60% inside hours of launch after briefly hitting a $3 billion market cap, sparking crypto chaos.
Kanye West watched his freshly minted YZY coin nosedive greater than 60% simply hours after its debut on the Solana blockchain Wednesday (August 20), following a short surge that pushed its market cap close to $3 billion.
The token, a part of West’s newly introduced Yeezy Cash ecosystem—which additionally consists of the Ye Pay processor and a YZY Card—initially skyrocketed almost 1,000% in worth, peaking above $30 earlier than tumbling to beneath $1.
At one level, the coin was buying and selling round $0.98, reflecting the form of wild value swings which have turn into normal in celebrity-backed meme cash.
Regardless of the dramatic drop, the official Yeezy web site listed YZY as a sound cost technique.
Nonetheless, the abrupt pivot into crypto left some observers scratching their heads, with hypothesis on-line that West’s account might have been compromised.
The YZY Cash website tried to mood expectations, stating the coin is “not meant to be an funding alternative” and must be seen as a symbolic “expression of help.”
It additionally warned consumers of the “inherent dangers and potential for full loss.”
West’s transfer into the crypto house marked a pointy reversal from his earlier stance.
Again in February 2025, he publicly criticized meme cash and the speculative frenzy surrounding them.
He even shared that he as soon as turned down a $2 million provide to advertise a faux Ye-themed cryptocurrency, and stated, “I wouldn’t rip-off my group” and warned that “cash prey on the followers with hype.”
Keep secure boys pic.twitter.com/GlJqXPcJ0b
— legen 🚀🌕 (@legen_eth) August 21, 2025
The coin’s worth continued to slip all through the day Thursday (August 21) as merchants rushed to dump holdings amid rising uncertainty.
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