Seventy Percent of Investors Face Losses

Rapper Kanye West’s recent launch of the Solana-based token YZY (Yeezy Money) has drawn significant attention across the crypto market. According to the latest data from blockchain analytics platform Bubblemaps, over 73% of wallets holding YZY are currently in the red. Among 70,201 traders, 51,862 wallets have suffered losses, with total losses reaching $74.8 million. More than 1,000 wallets recorded individual losses of over $10,000.

Profits Concentrated in a Handful of Wallets

While most investors realized losses, around 18,000 wallets saw profits—although the vast majority made less than $1,000 each. Strikingly, just 11 wallets captured nearly 30% of total profits, amassing several million dollars and illustrating a high concentration of gains.

Token Price Plunge and Manipulation Allegations

On launch day, YZY was aggressively promoted through social media and its official website, emphasizing decentralization and promising users financial empowerment. However, within a few hours, the token’s price crashed roughly 70%. Bubblemaps and members of the crypto community identified signs of insider trading and bot-driven “sniping,” in which bots rapidly accumulate large positions right after a token’s debut—causing a brief price spike followed by a sharp drop.

Involvement of Controversial Figures

Bubblemaps revealed that Hayden Davis—previously linked to the failed Libra memecoin project—reappeared in YZY trading, netting $12 million in profit. A well-known sniper operating under the alias “Naseem” reportedly became an early YZY investor as well; Naseem previously attracted attention for raking in about $100 million in profits from former President Trump’s memecoin.

Community Criticism and Industry Self-Examination

On platform X, Bubblemaps pointed out that this episode exposes structural flaws within the crypto sector. Despite ongoing efforts to call out opaque practices, familiar actors continue to execute the same playbook: getting in early on major launches and extracting oversized profits. These maneuvers have triggered skepticism toward current token launch models and reignited debate within the crypto community about improving transparency and investor safeguards.

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Summary

The YZY episode once again highlights the high risks and speculative dynamics of the memecoin market. For most participants, meteoric price gains often conceal significant downside risk. As the industry continues to scrutinize this case, finding the right balance between innovation and investor protection remains a pressing challenge for the crypto sector.