Kanye West said that Mimikwins is “prey to the fans.” Then it seems that he fired one

Kanye West, and It seems that the hip -hop music artist, who is passing by his own, has launched its own encrypted currency, which sparked riots in trading activity.

In February, West rejected the idea that he might launch an encryption currency. “I do not do a coin,” he wrote in A. Since I was deleted On X. “Prehisting currencies on the masses with noise. It seems not his opinion.

On Wednesday evening, the X West account announced the Yzy coin in two Pillars. “The official symbol YEYIZY has fallen,” West said in the movie Deadpan. Video That some x users forecast It was created from artificial intelligence.

As traders accumulated, the paper value of the currency It rose to 3 billion dollarsThen it fell by two -thirds within three hours, when the first investors confiscated. Since the beginning of trading, investors were placed More than 740 million dollars The value of deals. Blockchain Analytics Nansen says that the majority of merchants recorded losses and collectively lost more than $ 20 million.

The winner of the award of more than 20 Grammy Awards, West has become an increasingly uninterrupted in his behavior in recent years. The most reputable, West chain made of Miganding notes for Semitism In 2022, it sparked a wide condemnation and led to Adidas Abandoning a profitable partnership With its design mark. In May, it is He released a music video Entitled “Hill Hitler”.

The Yzy coin is supposed to be part of a larger range of products called Yzy Money, which also claims to include encryption payments and discount card. “Yzy Money is a concept of your position in control, free of central power,” Site claims.

According to the website, 20 percent of the Suder Yzy was released, 10 percent was collected on the stock exchanges to allow smooth circulation, while Yeezy Investments LLC retains 70 percent. The company cannot reach these coins for at least three months, a common practice aimed at preventing exporters from throwing their holdings and drowning the price of the coin.

It is not clear who controls Yeezy’s investments, which are registered in Dilayer and therefore not required to reveal the structure of its ownership. YEEZY Investments runs Yzy Money with a license granted by OX PAA Inc. And it is a company west through it He manages his intellectual ownershipConditions and terms state.

Rising encryption dealers are usually warned of metal currencies whose supply is concentrated in the hands of a small number of parties, for fear of selling them from their property, as they lead the price of the coin.

“You have to think at the bottom of the line,” says Nikolai Sondargard, Nansen’s research analyst. “Let’s say all the symbols that open within two years, you may not want to be in a symbol at that point. You can somewhat assume that there will be a sale.”

The patterns of trading activity in the minutes that followed the Yzy Coin advertisement led to more questions about the safety of the launch.