Kanye West watched his freshly minted YZY coin nosedive more than 60% just hours after its debut on the Solana blockchain Wednesday (August 20), following a brief surge that pushed its market cap near $3 billion.
The token, part of West’s newly announced Yeezy Money ecosystem—which also includes the Ye Pay processor and a YZY Card—initially skyrocketed nearly 1,000% in value, peaking above $30 before tumbling to under $1.
At one point, the coin was trading around $0.98, reflecting the kind of wild price swings that have become standard in celebrity-backed meme coins.
Despite the dramatic drop, the official Yeezy website listed YZY as a valid payment method.
Still, the abrupt pivot into crypto left some observers scratching their heads, with speculation online that West’s account may have been compromised.
The YZY Money site tried to temper expectations, stating the coin is “not intended to be an investment opportunity” and should be seen as a symbolic “expression of support.”
It also warned buyers of the “inherent risks and potential for complete loss.”
West’s move into the crypto space marked a sharp reversal from his previous stance.
Back in February 2025, he publicly criticized meme coins and the speculative frenzy surrounding them.
He even shared that he once turned down a $2 million offer to promote a fake Ye-themed cryptocurrency, and said, “I wouldn’t scam my community” and warned that “coins prey on the fans with hype.”
Stay safe boys pic.twitter.com/GlJqXPcJ0b
— legen 🚀🌕 (@legen_eth) August 21, 2025
The coin’s value continued to slide throughout the day Thursday (August 21) as traders rushed to offload holdings amid growing uncertainty.