Kanye West, now known as Ye, launched a Solana-based memecoin called $YZY on August 21, 2025. The token, part of the "YZY Money" ecosystem which includes Ye Pay and YZY Card, quickly surged to a market capitalization exceeding $3 billion within 45 minutes of trading. However, the value experienced extreme volatility, crashing by more than 70% within 24 hours to below $1 billion and continuing to decline in the following days. On-chain analysis revealed that approximately 70% of the token's supply is controlled by a single wallet, raising concerns about centralization and insider trading. Further investigation linked the first buyer of $YZY to Hayden Davis, the creator of the controversial LIBRA token, who allegedly used multiple exchange-funded wallets to snipe the token at launch. Davis reportedly made around $12 million in profits from early trades. The launch and subsequent price collapse highlight the risks associated with celebrity-driven cryptocurrencies and the potential for market manipulation within the Solana memecoin ecosystem.