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.
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