Kanye West, now known as Ye, launched Yeezy Money (YZY), a meme cryptocurrency on the Solana blockchain, which saw a rapid surge to a $3 billion market cap within 40 minutes before falling back to around $1.05 billion.

The token's launch was marred by concerns over centralization, with nearly 70% of the supply held by a single wallet and only 20% publicly available, raising fears of market manipulation.

YZY aims to build a new financial ecosystem with use cases like loyalty programs, retail transactions, and peer-to-peer transfers, although detailed timelines for services like Ye Pay and the YZY Card remain undisclosed.

Risks associated with the token include rug pulls, sudden sell-offs, and market manipulation; traders are advised to employ risk mitigation strategies such as stop-loss orders and diversification.

Skepticism persists among investors about pump-and-dump schemes, with social media discussions reflecting doubts about hype-driven speculation in memecoins.

The project incorporated mechanisms to prevent front-running, like randomly selecting one of 25 contract addresses for transactions, but still faces criticism for its short-term focus and insider influence.

Lack of a detailed roadmap or technical documentation has led to doubts about YZY's long-term viability, heavily relying on celebrity influence and social media hype.

The launch was criticized for red flags including allegations of insider trading and controversial legal waivers that could hinder investors' ability to participate in class actions.

Industry experts warn that YZY is a risky investment with poor long-term prospects, citing its high volatility and speculative nature.

Security features like anti-sniping measures are included to promote fair participation and build trust among early investors.

Concerns about transparency and market manipulation persist due to insider dominance and unclear utility for the token.

Investors have largely experienced losses, with around 45% of addresses in profit and over 60% in the red, including some who lost over $1 million, highlighting significant risks and pump-and-dump dynamics.

Insider wallets making early purchases suggest internal confidence, but the speculative nature raises red flags among analysts.