Kanye West Announces Coin Drop Next Week Following Weeks of Controversy

• Kanye West announced he will launch a coin next week and all current coins are fake. 
• Kanye recently launched YZY token as the official currency for his Yeezy brand. 

Popular rapper Kanye West has been making headlines for the past few weeks regarding his entry into the crypto industry. It first started when Kanye claimed that he was offered $2 million to promote a fake Ye cryptocurrency. Since then, there were speculations that the rapper will soon launch a token. 

Putting an end to all speculations and controversy, Kanye West revealed that he will launch a coin next week. He posted on his account stating all the current coins are fake. While some of his audience criticized citing his earlier post that says he is not going to launch a coin, others suggested him to wait for the right moment. 

Kanye West took it to his X account and revealed that he was approached to promote a fake Ye cryptocurrency. He even shared a screenshot of the message that shows X Promotional Contract. Kanye further stated that he rejected the offer and stopped working with that person. 

After stirring controversy surrounding this post, several people commented saying his claims are false and the message is fake. Later, he made another post clarifying that he is not doing a coin and said “Coins prey on the fans with hype.” Thus, the present announcement of launching a token next week is attracting criticism across the crypto community. 

Based on multiple sources, Kanye West planned to launch YZY token on Feb 20. But, the launch was postponed and he mentioned today the token launch will be next week. YZY cryptocurrency will serve as an official currency for his Yeezy brand. Several sources also mentioned that around 70% of tokens will go to Kanye West while 10% allocated for liquidity provisioning and 20% for investors. 

Polymarket Predicts 68% Chance that Kanye Will Launch a Coin in February

Amidst the Kanye West token launching controversy, crypto prediction platform Polymarket estimated that there is a 68% chance that he will launch a coin this month. The odds increased from 46% earlier this month to 68% today. Nonetheless, Kanye West is causing quite a buzz in the crypto industry despite when he is going to launch a token.

Highlighted Crypto News Today: 

Bybit Hit by $1.4 Billion Crypto Heist as Lazarus Group is Suspected