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

August 21, 2025 9:39 am

Screenshot 2024-02-09 at 09-56-21 kanye - Search _ X

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?

You can follow along here.

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Roger Friedman began his Showbiz411 column in April 2009 after 10 years with Fox News, where he created the Fox411 column. His movie reviews are carried by Rotten Tomatoes, and he is a member of both the movie and TV branches of the Critics Choice Awards. His 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. He is also the writer and co-producer of "Only the Strong Survive," a selection of the Cannes, Sundance, and Telluride Film festivals, directed by DA Pennebaker and Chris Hegedus.

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

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