Kanye West quashes memecoin launch rumors, says coins 'prey on the fans'
Quick Take Ye, the rapper and designer formerly known as Kanye West, said on X that he has no plans to create a crypto token. “COINS PREY ON THE FANS WITH HYPE,” Ye wrote on X in one of a series of erratic social media posts.
Ye, the rapper and designer formerly known as Kanye West, said on X he has no plans to drop a memecoin after initially teasing the idea on Friday.
"IM NOT DOING A COIN," Ye wrote on X Saturday, as part of a series of erratic social media posts the controversial star has published since Thursday night. "I ONLY DO THINGS I AM PASSIONATE AND KNOWLEDGEABLE ABOUT...COINS PREY ON THE FANS WITH HYPE."
Ye's explicit and often offensive recent posts occasionally referenced crypto; the rapper said he was offered $2 million to launch a memecoin and posted publicly that he was looking to get in touch with Coinbase CEO Brian Armstrong, The Block previously reported .
"I also turned down a fake coin tweet," Ye wrote in another post.
A Polymarket prediction market launched Thursday to speculate on the possibility of Ye launching a coin in February at one point gave the prospect a 40% chance before crashing to 13% following Ye's tweet.
Ye's recent posts have been the subject of major controversy given their often offensive and shocking content. The star has praised Nazi imagery , attacked Jewish people , and published a variety of other obscene statements . Ye lost his longtime partnership with Adidas and was dropped by the Creative Artists Agency in 2022 over similar statements.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Behind the 15 million financing, does Surf aim to become an AI analyst in the crypto field?
Cyber co-founder starts a new venture.
Castle Island Ventures partner: I don’t regret spending eight years in the cryptocurrency industry
A cryptocurrency practitioner who once held libertarian ideals became disillusioned after reflecting on a career spent building "financial casinos," sparking a profound reflection on the divergence between the original aspirations and the current reality of the crypto space.
Powell: Employment is weakening, inflation remains high, and no one is talking about rate hikes now
Powell pointed out that the U.S. labor market is cooling, with hiring and layoffs slowing down and the unemployment rate rising to 4.4%. Core PCE inflation remains above the 2% target, but service inflation is slowing. The Federal Reserve has cut interest rates by 25 basis points and started purchasing short-term Treasury bonds, emphasizing that the policy path needs to balance risks between employment and inflation. Future policies will be adjusted based on data. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its generated content are still in the process of iterative improvement.
$RAVE TGE Countdown: When Clubbing Becomes an On-Chain Economic Activity, the True Web3 Breakthrough Moment Arrives
RaveDAO is rapidly growing into an open cultural ecosystem driven by entertainment, becoming a key infrastructure for Web3 to achieve real-world adoption and mainstream breakthrough.
Trending news
MoreCrypto prices
More
