Joining US President Donald Trump’s crypto race, rapper Kanye West has launched his own meme coin on the Solana blockchain despite his previous rejection of new-age obsession. With the MAGA leader and Wall Street backing crypto market, and boosting its value to $4 trillion, the highly controversial hip-hop icon announced via social media that his Yeezy crypto token – called YZY – was officially a reality.

Kanye West announces Yeezy Money, aka his own meme coin

“YEEZY MONEY IS HERE,” he shared on X, formerly Twitter just hours ago, “A NEW ECONOMY, BUILT ON CHAIN.” West, now known as Ye, also shared the link money.yeezy.com, redirecting his fans to his meme coin. In an extremely succinct video, the “Heartless” hit-maker announced, “The official Yeezy token just dropped.”

West’s website link described his meme coin as a “concept to put you in control, free from centralized authority.” It also shows that 70% of the supply is owned by Yeezy Investments LLC, with 20% public supply and 10% liquidity.

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According to CoinGecho data, Kanye’s $YZY coin’s price skyrocketed almost 1000% within minutes of its launch. It ultimately peaked at $3 billion – even if briefly – in ten minutes before it slipping back to around $1.5 billion. “YZY/USDC price has a 24-hour high of $3.164 captured at 02:39AM UTC,” stated the real-time tracker, adding, “The exchange rate of 1 YZY to USDC is $1.1502 as of 06:32AM UTC.”

In addition to the YZY coin, his project “Yeezy Money,” which he calls a payment ecosystem, comprises “Ye Pay,” a payment processor that seeks to reduce merchant fees, and “YZY Card,” a credit card allowing users to spend YZY and USCD on the global stage, as per CoinPedia.

Kanye West wasn’t always onboard with crypto coins

West’s reversal on the whole crypto business comes merely months after he rejected any plans to jump on its bandwagon. The hip-hop icon didn’t mince his words while scoffing at the concept altogether.

“M not doing a coin. I make products. I only do things I am passionate and knowledgeable about. I’m too rich to do anything else. Coins prey on the fans with hype,” he slammed the celebrity crypto tokens on X in February. Around the same time, he further divulged that he was presented with the opportunity to sign a $2 million deal to “scam” people. West said at the time that he was quick to decline the offer.

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His remarks followed shortly after the US president’s Official Trump TRUMP/USD and First Lady Melania Trump’s Official Melania MELANIA/USD was revealed to the public. Much like Ye suggesting in February that he was not “knowledgeable” on the digital currency front, the Republican leader has also initially commented about not knowing much about the meme coin. “I don’t know much about it other than I launched it, other than it was very successful,” Trump told reporters.