YZY Token Launch Hits $3B Market Amid Insider Profit Allegations

Kanye West, now known as Ye, launched a Solana-based meme coin called YZY Money, which saw its valuation spike above $3 billion before sharply dropping below $1 billion within hours. The token’s distribution heavily favors insiders, with about 70% allocated to Ye's investment entity and only 20% released to the public, raising concerns of significant risk for retail investors. Early trading was marked by unusual patterns, including large profits by a handful of wallet holders controlling over 90% of the supply, suggesting insider trading and front-running activity. The YZY ecosystem aims to expand with a payment processor and a debit card, intending to lower merchant fees and create a new on-chain economy. Efforts to prevent manipulation included deploying multiple contract addresses and using vesting schedules, but critics remain wary, comparing it to other controversial celebrity-endorsed tokens such as Donald Trump’s TRUMP token. Analysts caution that the liquidity structure and centralization expose late retail buyers to potential losses amid this volatile launch.