Rapper Ye, formerly known as Kanye West, has once again baffled the crypto community with erratic social media behavior and conflicting messages about his rumored meme coin project.
What Happened?
On Sunday, Ye fueled speculation about an official cryptocurrency launch by posting on X (formerly Twitter):
“I need my own blockchain.”
The post ignited rumors that the hip-hop artist might be working on his own crypto ecosystem, potentially tied to his Yeezy brand.
Ye also reposted several posts from Changpeng Zhao (CZ), the former Binance CEO, leading many to believe his meme coin could be built on the BNB Chain (BNB/USD).
However, in an unexpected turn, Ye unfollowed CZ and instead followed Olaf Carlson-Wee, founder of crypto investment firm Polychain.
Adding to the confusion, Ye has since deleted all previous posts teasing the project.
The rapper has yet to respond to requests for comment, leaving uncertainty around whether a Ye-backed crypto is actually in the works.
Why It Matters
Reports earlier this week suggested Ye was planning to launch a cryptocurrency called YZY, potentially serving as the official currency of Yeezy products.
If true, this would represent a sharp reversal from his recent anti-crypto stance, where he dismissed plans for a personal meme coin and criticized celebrity-backed tokens.
Ye’s controversial views have already impacted his business. Recently, Shopify removed his online store after he listed products featuring offensive symbols.
Meme Coins & Celebrity Influence
The rise of celebrity-backed meme coins has become a dominant trend in the current market cycle, led by the high-profile launch of Official Trump (TRUMP/USD), endorsed by Donald Trump.
However, these tokens have also faced scrutiny and criticism due to their volatile nature, unclear tokenomics, and pump-and-dump concerns.
With Ye’s crypto intentions still unclear, the community remains on edge, waiting for his next unpredictable move.
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