Tuesday, May 19, 2026

Kanye Goes Crypto: Launches Memecoin That Soars to $3 Billion, Drops Under $1 Billion: Critics Question Pump and Dump Scheme

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Critics are already question whether Kanye West’s memecoin is a pump and dump scheme.

The coin, called YZY, soared to $3 billion value, then immediately crashed to around $1 billion. It fell under $1 billion briefly this morning before climbing back to that level again.

For West, this could be a get rich quick scheme. Known as Ye, West has lost all his fashion contracts, is persona non grata in the music world. It remains to be seen what his coin is based on.

Ye is more closely identified with antisemitism, a love of Hitler, and sporadic outbursts than any kind of financial success. Why would anyone waste time on this?

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Roger Friedman
Roger Friedmanhttps://www.showbiz411.com
Roger Friedman is the founder and editor-in-chief of Showbiz411. He wrote the FOX411 column on FoxNews.com from 1999 to 2009 and previously edited Fame magazine and wrote the "Intelligencer" column at New York magazine. His bylines have appeared in The New York Times, The Washington Post, the New York Daily News, the New York Post, Vogue, Details, and the Miami Herald. He is a voting member of the Critics Choice Awards (Film and Television branches), and his movie reviews are tracked by Rotten Tomatoes. is articles have appeared in dozens of publications over the years including New York Magazine, where he wrote the Intelligencer column in the mid 90s and covered the OJ Simpson trial, and Fox News (when it wasn't so crazy) where he covered Michael Jackson. With D.A. Pennebaker and Chris Hegedus, he co-produced the 2002 documentary "Only the Strong Survive," which screened at Directors' Fortnight at the Cannes Film Festival.

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