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Rapper Ye (formerly Kanye West) appeared to launch a Solana-based token called YZY/YZY Money on August 21, triggering a breakneck rally that briefly pushed the token’s fully diluted valuation toward the billions before a swift plunge wiped out much of the gains. The celebrity-backed rollout stoked fresh scrutiny of memecoin launches and fairness for retail buyers.
On-chain analytics later showed a small cluster of early wallets captured outsized profits. Cointelegraph, citing Nansen data, reported that 13 addresses each made more than $1 million trading YZY, collectively clearing over $24 million as the price reversed. Price feeds around launch showed a spike of roughly 1,400% toward about $3, followed by a drop of 70%+ within a day.
Investigators also linked at least one profitable YZY “sniper” wallet to the same extraction network active in the LIBRA token launch months earlier, suggesting coordination by a repeat actor or group. Some traders reportedly paid steep priority fees to jump the queue, while one whale amassed a multi-million-dollar position within minutes—moves that reinforced perceptions of an uneven playing field at launch.
Beyond day-one trading chaos, the project’s structure raised additional concerns. Reporting noted that a large majority of supply was parked with a Yeezy-affiliated entity, and that “YZY Money” branding hinted at ambitions for a broader payments ecosystem—factors that amplified debate about concentration, disclosure, and retail risk in celebrity coins. Market commentary in mainstream outlets said the YZY saga will likely intensify policy discussions around altcoins and promotional practices.
As exchanges and on-chain sleuths continue to parse flows from the launch, the episode has become a case study in how fast-moving token debuts can reward speed and insider positioning while leaving latecomers exposed—especially in thin, hype-driven markets.
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