From Ethical Role Model to Controversy: A Timeline Reversal

On February 8, 2025, Kanye West publicly rejected a $2 million offer to promote a meme coin on X, declaring, “I will never launch a token. These hype-driven scams are like overmarketed sneaker culture.” The post garnered 230K likes, briefly cementing his status as an “industry icon.”

Two weeks later, the narrative shifted:Feb 21: CoinDesk reported Kanye’s secret plans for the YZY token, with 70% allocated to his team.Feb 22: He tweeted about “Swasticoin,” sparking a 1,200% price surge for a related token before deleting the post.Feb 24: His X account followed then unfollowed Binance’s CZ, deleting multiple posts.His follower count dropped by 150K within 48 hours.

Image generated by AI.

The X Account Mystery: A Manipulated Narrative

The crypto community turned detective when anomalies emerged: New follows included @doginal (a meme coin account) and crypto influencers.Posts used terms like “CA” and “liquidity pools” uncharacteristic of Kanye. Tweets posted at 3 AM Nigeria time, conflicting with his known schedule.Blockchain analyst @BlockSleuth traced the $YZY token to a deployer address linked to past rug pulls via Arkham Intelligence.

 History Repeats: NFT “Cash Grabs”

This wasn’t Kanye’s first crypto controversy:Dec 2021: Sold a $50K NFT for a “exclusive community” that disbanded months later.Feb 2022: Announced he’d “quit NFTs,” then filed metaverse trademarks for Yeezus in May.Oct 2023: His music NFT trading volume collapsed by 97% on OpenSea.“Celebrity projects thrive on speculation,” noted Fortune. “Fan trust becomes trading volume, then exit liquidity for insiders.”

The “Three Highs” of Celebrity Token Risks

CoinGecko’s 2025 data reveals:Hype Phase: Ambiguous crypto-related posts from celebrity accounts.Rapid Launch: Tokens deployed on Solana or Base within minutes.Pump & Dump: Wash trading inflates volume before team sell-offs.

Regulatory Crackdowns and Industry Reflection

The incident accelerated global action:U.S. SEC: Plans to classify celebrity tokens as securities, with fines up to $5M.EU MiCA: Mandates ongoing disclosures by promoters; liability for omissions.Exchange Policies: Binance, OKX delisted 12 unaudited celebrity tokens.Technically, Aave is developing a risk-rating plugin analyzing token allocations and contract permissions.Three Survival Rules for Investors

  1. Beware “Free Lunches”: Demand legal docs for “exclusive benefits” claims.
  2. Master Chain Analysis: Use Etherscan to check holdings (＞30% team allocation = red flag).
  3. Set Hard Stops: Limit exposure to 2% of capital; exit if prices drop 15% below launch.

“Crypto isn’t short on get-rich tales,” warned analyst @CryptoGuru. “But when a token flaunts a celebrity’s face, assume it’s a trap, not a treasure map.”

Colin Winston

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