Ye launches Solana-based YZY token for Yeezy Money ecosystem

Kanye West, who now uses the name Ye, launched a Solana-based cryptocurrency on Wednesday as the centerpiece of a broader Yeezy Money ecosystem that also includes Ye Pay and a YZY Card. The rollout, announced on social media, sent traders into a swift but unsettled frenzy: YZY initially surged to a multibillion-dollar market capitalization within minutes, then reversed course in dramatic fashion, leaving the token’s longer-term viability—and the broader appeal of celebrity-backed crypto schemes—under close scrutiny.

The YZY ecosystem positions the token as more than a meme: it is described as the native currency of a broader payments network, with Ye Pay billed as a low-fee crypto processor and the YZY Card aimed at enabling global spending in YZY and USDC. The token contract is on Solana, and the project’s site notes a plan to distribute tokens through a structured vesting schedule designed to deter typical celebrity-driven dumps. Public allocation accounts for 20% of supply, liquidity for another 20%, with Yeezy Investments LLC holding 30% under a multi-phase vesting schedule, including three- and six- and 12-month cliffs that extend over two years. An additional 30% is...