Kanye West promotes Yeezy Money Solana cryptocurrency on X sparking skepticism over legitimacy
-Reuters
U.S. rapper and entrepreneur Ye, formerly known as Kanye West, appears to have launched his own cryptocurrency, a Solana-based token called Yeezy Money (YZY).
Ye, formerly known has Kanye West, has announced that people can now purchase items from his YEEZY shop using crypto 👀 pic.twitter.com/3SfnMXMneL
In a post shared Wednesday on his official X account, West wrote, “Yeezy Money is here … A new economy, built on chain,” alongside what appeared to be a wallet address and a link to a trading platform. According to data from the analytics site GMGN.Ai, YZY’s market capitalization is currently valued at around $2 billion.
The website linked in the post describes YZY as a project designed to give users control “free from centralized authority.” It highlights a wider ecosystem including Ye Pay—a payment processor promising lower fees for merchants—as well as a planned YZY credit card. However, the site also discloses that the token is intended only as a symbolic expression of support and not as an investment opportunity.
The announcement has sparked skepticism online, with many X users speculating that West’s account may have been hacked. Those doubts are partly fueled by West’s previous comments in February, when he criticized memecoins as schemes that “prey on the fans with hype” and denied plans to launch his own cryptocurrency. At the time, he claimed he was offered $2 million to promote a fraudulent token but refused.
Despite the suspicions, West’s official website and online store list YZY as a potential payment option, lending weight to the possibility that the project is genuine.
If confirmed, the move would represent a sharp pivot in West’s stance on digital assets.