After Kanye West denied issuing tokens, the related hype tokens plummeted

Rapper Kanye West denied launching a cryptocurrency on social media, stating that "tokens are just hyped to harvest fans." Previously, the market expectation for his token issuance was as high as 40%, but it quickly fell to 10% after his statement. Multiple knock-off coins related to Kanye plummeted, with one falling over 65% and another dropping by 89%. Kanye revealed that he had turned down a $2 million token issuance proposal and stated that he would only devote himself to things he is truly passionate about and understands. After his remarks, he also seemed to seek communication with Brian Armstrong.