Kanye West’s Controversial YZY Memecoin Launch Sparks Crypto Community Concerns

Kanye West's latest venture into cryptocurrency with the YZY memecoin has raised eyebrows across the digital asset space. The rapper's X account now promotes "YZY Money" alongside Ye Pay and YZY Card, marking a contentious entry into crypto payments processing.

The MOVE follows Shopify's termination of services for Ye's Yeezy apparel website earlier this year after controversial swastika t-shirt sales. Internal Shopify communications described the merchandise as "vile, disgusting, and inexcusable," citing potential consumer fraud risks rather than ideological objections as the primary removal reason.

RugCheck's analysis of the live YZY token contract warns of "DANGER," casting doubt on the project's legitimacy. This development arrives amid growing scrutiny of celebrity-backed crypto projects following numerous high-profile failures and allegations of market manipulation.