YZY token hit $410 million before crashing to $140 million. Crypto community is questioning if this was a hack, deepfake, or real Kanye. Onchain data shows top four wallets control about 80% of the supply.

Kanye West, the rapper turned entrepreneur who now goes by Ye, has unveiled YZY, a new meme coin on Solana. What began as a hyped debut soon turned messy, as claims of insider trading and wild price volatility overshadowed the token’s first hours on the market.

Ye (formerly Kanye West) has entered the crypto business. The rapper launched his Yeezy Money meme coin on the Solana blockchain on Wednesday (Aug. 20).