Kanye West’s YZY coin plunged over 60% inside hours of launch after briefly hitting a $3 billion market cap, sparking crypto chaos.

Kanye West watched his freshly minted YZY coin nosedive greater than 60% simply hours after its debut on the Solana blockchain Wednesday (August 20), following a short surge that pushed its market cap close to $3 billion.

The token, a part of West’s newly introduced Yeezy Money ecosystem—which additionally consists of the Ye Pay processor and a YZY Card—initially skyrocketed practically 1,000% in worth, peaking above $30 earlier than tumbling to below $1.

At one level, the coin was buying and selling round $0.98, reflecting the form of wild value swings which have grow to be customary in celebrity-backed meme cash.

Despite the dramatic drop, the official Yeezy web site listed YZY as a sound cost methodology.

Still, the abrupt pivot into crypto left some observers scratching their heads, with hypothesis on-line that West’s account could have been compromised.

The YZY Money web site tried to mood expectations, stating the coin is “not intended to be an investment opportunity” and needs to be seen as a symbolic “expression of support.”

It additionally warned consumers of the “inherent risks and potential for complete loss.”

West’s transfer into the crypto house marked a pointy reversal from his earlier stance.

Back in February 2025, he publicly criticized meme cash and the speculative frenzy surrounding them.

He even shared that he as soon as turned down a $2 million supply to advertise a pretend Ye-themed cryptocurrency, and mentioned, “I wouldn’t scam my community” and warned that “coins prey on the fans with hype.”

The coin’s worth continued to slip all through the day Thursday (August 21) as merchants rushed to dump holdings amid rising uncertainty.

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