Arthur Hayes Calls for $YE Memecoin as Kanye Sparks Controversy

Hayes, known for his market analysis, shared a post from Kanye West’s now-deactivated account, which included a screenshot of a private conversation. In the screenshot, Kanye asked an anonymous X user to share a “crypto connect name that won’t require a middleman.“

Kanye captioned the image: “Concerning crypto.”

The Full Picture of What’s Going on With the YE Memecoin 

Speculation about whether the famous and unpredictable rapper will launch his cryptocurrency started when he mentioned the word “coin” in an X post. On February 7, Kanye asked:

WHEN PEOPLE MAKE ALL THAT MONEY WITH A COIN IS THAT CASH OR CONCEPT.

Later, Kanye wrote that he was offered $2 million to promote a scam project. He attached a screenshot showing someone promising a $750,000 initial payment to promote the token.

According to the screenshot, the deal required Kanye to keep the post up for 8 hours to receive an additional $1.25 million. The company behind the offer intended to scam the public out of tens of millions of dollars.

After defrauding investors, Kanye would then claim his account was hacked, denying involvement in promoting the token.

Kanye rejected the scam offer, saying “No”.

I was proposed 2 million dollars to scam my community. Those left of it I said no and stopped working with their person who proposed it,

– the rapper shared.

Discussions about the YE coin on X continue, though Kanye himself deactivated his account on February 10. In the days prior, Kanye’s posts received heavy criticism and a “sensitive content warning” notice.

This was due to a series of posts against Jewish people, including statements like “I don’t like or trust no Jewish person,” “I’m a Nazi,” and “I'm never apologizing for my Jewish comments.”

These posts led to a campaign urging X owner Elon Musk to suspend Ye’s account. Friends star David Schwimmer was among those demanding Kanye West’s removal from social media.

Ye, however, deactivated his account before any suspension.

I'm logging out of Twitter,” he wrote on February 10 while leaving X. “I appreciate Elon for allowing me to vent.

Multiple Kanye West Memecoins on the Market 

It’s important to note that Kanye West hasn’t launched any memecoin. However, multiple Kanye West-themed memecoins are already on the market, some of which launched a year ago or earlier. At the same time, new ones continue to emerge.

As of now, there is no indication that Kanye West has any plans to launch or endorse a cryptocurrency. His social media absence and recent controversies make it unlikely that he will engage with the crypto community in the near future. Still, the possibility remains open.

For now, the various YE-themed memecoins remain speculative assets, driven by hype rather than real utility or Kanye’s endorsement. Traders should approach these tokens with extreme caution, as their value could plummet just as quickly as they surged.