Cryptic crypo.
Kanye West’s memcoin or bit coin, trading as YZY, is in a free fall.
In less than a week its value has dropped from $3.1 billion to under $600 million. And it’s falling fast.
If you invested money in YZY, it’s pretty much gone like Kanye’s career.
I told you last week that experts say Kanye and a small group of cronies cashed in at the beginning, leaving anyone else to hang in the wind.
This morning the value of YZY is $568 million.
The value of the coin is based on “Kanye’s relationships.” But he has none. Adidas and other fashion contracts were killed when his rampant antisemitism surfaced. He has no record contract, and his self-issued music is mostly ignored.
Kanye’s only been able to do shows in far flung places like Korea. No one in the US wants him or even Europe. His professed love of Hitler and Nazis has made it impossible for him to promote anything except ill will.
His next show is later this fall in Brazil.
What better place?PS: Google AI — like the Robot on “Lost in Space” — tells me: “The YZY token is now a high-risk, volatile asset. The rapid drop in value serves as a cautionary tale about celebrity-driven crypto projects, where short-term hype often disappears quickly, leaving regular investors with significant losses.”
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