Ye is pushing into new territory with digital forex, however his rollout has already been hit with drama. The rapper introduced earlier this month that his newest mission, YZY Money, is formally stay on the Solana blockchain. Just days later, he advised followers that hackers had damaged into his Instagram account and linked him to a coin that he says is pretend. “My Instagram has been hacked and it’s following a fake coin,” he wrote on X. “The official project is @YZY_MNY.”

Visitors to Ye’s Instagram shortly observed that he solely follows two accounts. One belongs to his spouse, Bianca Censori, whereas the opposite is listed as Yeezy Token. Ye claims that the token account was arrange by hackers and doesn’t characterize his work. Despite having fewer than a thousand followers and only a single publish, the web page has been flooded with feedback from followers warning others that it isn’t related to him.

The official YZY Money launch got here on August twentieth, when Ye revealed it to the world with a publish that learn, “Yeezy money is here. A new economy, built on chain.” The forex exploded in its first week, with CoinGecko knowledge cited by Forbes exhibiting that it reached a market cap of three billion {dollars} earlier than slipping to 1 and a half billion. Even with the decline, the numbers mirror main curiosity from buyers and followers alike.

On its web site, YZY Money is described as extra than simply one other cryptocurrency. It is introduced as a philosophy geared toward shifting energy to people. “YZY MONEY IS A CONCEPT TO PUT YOU IN CONTROL, FREE FROM CENTRALIZED AUTHORITY,” a press release reads. “YZY IS THE CURRENCY THAT POWERS ALL TRANSACTIONS WITHIN YZY MONEY.”

Ye is now centered on separating his actual mission from copycats whereas establishing YZY Money as his newest cultural assertion.