Kanye West launched a solana-based meme coin that soared before tanking
Artist Kanye West launched a token, YZY, on the meme-coin-friendly solana blockchain, and it reached an eye-popping $3 billion market cap within 40 minutes of its launch, according to on-chain analytics firm Nansen. However, the surge was short-lived and the next 40 minutes saw its market cap drop to $1 billion, roughly where it still stands as of writing.
The top 500 wallets realized $50.4 million in profits vs. $21.4 million in losses, with the largest realized profit at $3 million and the largest realized loss at $1.3 million, Nansen data shows.
The token is supposedly, per the website, part of a broader “Yeezy Money” ecosystem, “a new economy, built on chain.” This includes Ye Pay, “a crypto payments processor,” and YZY Card, a “debit instrument for spending YZY and USDC at millions of merchants worldwide.”
The token distribution (or “YZYNOMICS”) includes 20% for the public, 10% for liquidity, and the rest for Yeezy Investments LLC.
Allegations of insider trading quickly plagued the token, with Lookonchain posting:
ye(@kanyewest) launched the $YZY token. Note:
— Lookonchain (@lookonchain) August 21, 2025
Only $YZY was added to the liquidity pool with no $USDC.
Dev may sell $YZY by adding/removing liquidity, similar to $LIBRA.
Multiple insider wallets prepared funds in advance and immediately bought $YZY.
Insider wallet 6MNWV8 knew… pic.twitter.com/qv7nsx0R4J
Recently pardoned BitMEX cofounder Arthur Hayes seems to have bought the token, asking West to “please not rug him” on X. Just a few hours later, Hayes posted, “Oopsie… fam next time pls don’t let me trade shitters like $YZY. Should have just kept two-steppin.”
Solana is also the blockchain behind $TRUMP, which is down 21% in the past month. Nansen said that while $TRUMP saw $29.5 billion in volume in the first 24 hours, “$YZY is significantly smaller,” with “$724 million in volume so far.”
In other solana news:
Solana is up 3% in the past 24 hours, but failed to cross the $200 mark in the past week and is down 37% from its January 19 all-time high.
DeFi Development Corp. acquired 110,000 SOL for $22 million. The company now holds 1,420,173 SOL and SOL equivalents on its balance sheet.
Sol Strategies announced this morning that it holds 400,909 SOL in its treasury. “Our validators generate SOL revenue every day. Instead of diluting shareholders, we reinvest it, letting us grow the treasury at a lower cost than buying on the market,” the company said on X.
Acheter-Louer, a French online real estate portal that underwent a solana pivot via its subsidiary Sol Treasury Corp., acquired 711 SOL and now holds 14,905 SOL.
