Kanye West still hasn’t released a crypto token, despite rumors
A Kanye West-themed token hit a $120 million market cap on Tuesday after the eccentric rapper followed an X account called “YZY MONEY” and sparked rumors of a “billion market cap token” launch. Unfortunately for one trader who plowed $750,000 into the unrelated Pump Fun-based “YZY,” it promptly dropped back to $7.5 million just seconds later, costing them an estimated $500,000. Despite no token announcement or address, West following the YZY MONEY account caused something of a frenzy among hopeful traders who duly piled into an assortment of “YZE”-themed tokens. Right on cue, crypto analyst Bubblemaps cautioned that scammers are “ already bundling fake $YZY tokens ” and warned users not to fall for them. The sudden pump and dump of a YZE-themed token on Pump Fun. Read more: Kanye West said ‘coin’ on X and memecoin degens are frothing The crypto community has been feverishly hyping up the idea of a Kanye West-backed...