Rapper Kanye West has launched a meme coin called $YZY on the Solana blockchain, which saw its market capitalization surge rapidly to over $3 billion shortly after launch. The token experienced a peak market cap above $3 billion before dropping to around $2 billion. The initial liquidity was approximately $120 million, with the best liquidity pool on the Meteora platform valued at about $1.4 billion. The top six wallet addresses control more than 90% of the token supply, with Yeezy Investments LLC owning 70%. The tokenomics resemble those of the Trump token, including a vesting schedule and a trading tax of around 2.5%. Some observers have raised concerns about the legitimacy of the coin, citing the concentration of supply among a few holders and potential insider trading activity. The launch coincided with the unfreezing of $57 million in USDC linked to the Libra team and Hayden Davis, fueling speculation about possible connections. The $YZY token is now listed on CoinGecko and trading activity has been intense, with some market participants warning of risks similar to previous memecoin launches.