Ye (formerly Kanye West) has entered the crypto business. The rapper launched his Yeezy Money meme coin on the Solana blockchain on Wednesday (Aug. 20).

Across a series of posts on X, formerly Twitter, Ye announced that he has a meme coin on the Solana blockchain. The Yeezy crypto token, YZY, unceremoniously launched on Wednesday (August 20), with Ye offering his followers a link to get involved. "Yeezy money is here," he wrote. "A new economy, built on chain."

YZY token hit $410 million before crashing to $140 million. Crypto community is questioning if this was a hack, deepfake, or real Kanye. Onchain data shows top four wallets control about 80% of the supply.