Kanye West Dismisses Rumors of Launching a Meme Coin

American musician Kanye West (Ye) dismissed rumors about his involvement with influencers and the launch of a meme token.

“I’m a rich guy who got scammed by some of my so-called ‘friends’, but these coin rumors are a new level. When I launch my token, I’ll make it very clear and official,” stated Ye.

Analyst Blade speculated that the rapper sold his X account to a meme coin trader under the pseudonym Barkmeta for $17 million. He believes the deal might be linked to preparations for a token launch by Ye.

?BREAKING: Kanye West sold his X account for $17 MILLION

The most anticipated memecoin launch is Barkmeta’s RUGPULL

I’ve investigated the full story behind this and was shocked

Here is what will happen and who is standing behind YE memecoin?? pic.twitter.com/7i8i2WuCSP

— BLADE (@BladeDefi) February 23, 2025

Blade claims that Barkmeta is using the account to promote a premeditated scam, describing the upcoming token launch as a rug pull.

During one of the X sessions dedicated to West’s meme coin, Barkmeta avoided direct answers about the token, which, according to the analyst, heightened suspicions.

Furthermore, after the alleged sale, there were abrupt changes in Ye’s posting style: posts became exclusively about cryptocurrencies and the new token. West began following profiles associated with Barkmeta, including the account of his supposed alter ego Tall.

Barkmeta was previously affiliated with other failed crypto projects like AB84, through which Yeezy Coin was promoted. The token turned out to be fraudulent and was abandoned hours after launch.

? NEWS: Ye allegedly sold posting rights to his X account to @barkmeta ahead of his crypto launch for $20 million, with his manager John Monopoly taking a 15% fee.

The general sentiment in the crypto industry is that @barkmeta aka @tall_data is a known scammer and scumbag of… pic.twitter.com/saeZgAFD1v

— AF Hasbara➕ (@afhasbara) February 23, 2025

Independent crypto enthusiasts have already detected activity related to the “official” YZY token. While the project remains illiquid, experts advise steering clear of it.

It seems the official Ye meme token, $YZY, has been deployed.

Yeezy customers, myself included, received a message a few hours ago with a link to bankofyzy (don’t interact)

I’m not completely certain it’s not a leak from the Yeezy database, but the token does exist, although it… https://t.co/pYmsWdWPJY pic.twitter.com/aT1TIucgjX

— Wimar.X (@DefiWimar) February 23, 2025

Earlier, CoinDesk speculated that Ye would launch the YZY token for his Yeezy clothing brand on February 21.

Later, according to media reports, the rapper announced plans to release the Swasticoin token, but deleted all related posts.