LIBRA 'Facilitator' Targets Kanye West's Memecoin

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Aug 25 2025

Kanye West's YZY Memecoin Launch: A coordinated group of blockchain wallets extracted $23 million from the launch of Kanye West's YZY memecoin, highlighting risks of volatility and insider manipulation in cryptocurrency markets.
Insider Manipulation Evidence: Analysts identified overlapping wallets involved in both the LIBRA and YZY transactions, suggesting possible insider information and strategic market actions.
Market Impact: The rapid rise and fall of the YZY token led to significant financial implications, with industry leaders concerned about the disruption caused to retail investors and community sentiment.
Trends in Celebrity-Backed Tokens: Similar patterns of quick profit extraction are common in celebrity-backed memecoins, indicating a trend of coordinated insider activities within the crypto industry.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

LIBRA 'Facilitator' Targets Kanye West's Memecoin

About the author

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