On Sunday, YZY Token was released by a founder who is unknown. On Telegram, people are getting excited about a coin that has a picture of a rapper’s face on the Ether ETH blockchain. Users are told to buy the coin and tell others about it to make it more valuable.
YZY Coin Telegram chat says that JP Morgan has stopped Kanye West from accessing his bank, even though he had more than $150 million in it. “We know that if/when Kanye tweets about cryptocurrency, it will probably be about Yeezy,” said a user named fuzzypunk. “It’s only a matter of time before he promotes crypto in public, and $YZY will welcome him with open arms when that day comes.”
People who like YZY Coin are happy that Kanye West was seen this weekend wearing a Satoshi Nakamoto hat. Nakamoto is the person who created bitcoin, so this is a big deal. One person on the official r/Kanye subreddit said, “Some mfs are going to lose a lot of money.” “Buying this token is a risk because it’s new and the people who made it are unknown,” said Duncan Cock Foster, co-founder of the NFT auction platform Nifty Gateway.
The YZY coin was created by an admirer of Kanye West. Foster believes that the coin will no longer exist within a few weeks. Cock Foster stated, “I believe these men care little about Kanye and are primarily interested in making money.”
Since much of the required disclosure information would already be available on the blockchain, Fyre doesn’t think that NFTs being legally treated as securities would be bad for NFT issuers, but it would be the SEC’s worst nightmare.