Kanye West’s YZY Memecoin Is a PR Disaster Waiting to Happen

Kanye West, now promoting himself simply as “Ye,” has launched a YZY Money memecoin, Ye Pay, and the YZY Card, attempting to build his own crypto payments ecosystem. But the project has already set off alarms: the token has crashed over 65% since launch and has been flagged as “dangerous” by blockchain security platform RugCheck.

The token’s contract allows the creator to make sweeping changes, including disabling sells, altering fees, minting unlimited tokens, and transferring holdings, permissions that expose investors to serious risks. “DANGER,” RugCheck’s CoinGecko warning reads, suggesting the project has traits commonly associated with scams or rug pulls.

The launch comes months after Shopify cut ties with West’s Yeezy brand. The e-commerce giant shut down the Yeezy store in February after West began selling swastika-themed merchandise, calling the stunt “vile” and warning of fraud risks to consumers.

Since then, Ye has attempted to reframe his brand around independence from “centralized authority,” with YZY Money pitched as a way to put users “in control.”

But the optics are troubling. The Yeezy site currently accepts traditional credit and debit payments alongside USDC on Solana, with YZY token payments marked as “coming soon.” The so-called “YZYNOMICS” also promises a payment processor (Ye Pay) and a non-custodial crypto card, though both are still in early stages.

For many in the crypto community, the issue extends beyond technical red flags. West has long courted controversy through antisemitic remarks and provocative stunts. Now, with his direct promotion of a high-risk memecoin, critics worry this association could deepen crypto’s ongoing reputation problem.

Many in the industry are not holding back in expressing their feelings about YZY Money; they are vocal and saying this isn’t innovation, it’s a circus.

At a time when crypto is fighting to shake off scams and Ponzi vibes, the last thing it needs is Kanye West waving a memecoin around like it’s art. Instead of proving blockchain’s real potential, this stunt drags the industry back into the gutter of celebrity gimmicks and bad PR.

If anything, YZY Money seems to be less about financial freedom and more about Ye finding new ways to separate fans from their wallets.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.

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