Red Flags Fly as Insiders and Whales Net $8 Million Profit From Kanye West’s YZY Coin Launch

YZY surged past $3B in valuation before it dipped to below $1B within hours of launch. On-chain data shows insiders accumulated tokens before the public release, making millions. Analysts warn the liquidity pool setup and centralization expose retail traders to risks. Kanye West’s official entry into the crypto market with his Solana-based meme coin, YZY, saw its market valuation briefly flash above $3 billion before a dramatic decline, leaving a trail of red flags for investors. The token got into the public via West’s verified X account alongside its contract address. The unveiling caused a wave of trading activity that sent volumes surging across Solana decentralized exchanges. Shortly after launch, YZY saw frenzied buying that drove its fully diluted valuation past $3 billion, only to retrace below $1 billion within hours. At its peak, the token traded above $2 before sliding back near $1. On-Chain Data Proves Insider Activity On-chain data shows heavy participation from large wallets with one whale spending 12,170 SOL (about $2.28 million) to acquire 2.67 million YZY. That position is now worth more than $8.29 million, locking in a profit … The post Red Flags Fly as Insiders and Whales Net $8 Million Profit From Kanye West’s YZY Coin Launch appeared first on Coin Edition .