- Kanye West exposed a $2M offer to promote a scam memecoin, rejecting a deal designed to manipulate investors through artificial hype.
- The plan involved a price pump-and-dump scheme, where Kanye’s influence would attract buyers before the coin’s creators dumped their holdings.
- Kanye’s decision to turn down the offer highlights the ongoing issue of celebrity-driven crypto scams and the risks they pose to investors.
Kanye West has revealed that he was offered $2 million to promote a scam Solana-based memecoin, $YE. The deal was structured to create artificial hype, boost the coin’s price, and ultimately scam investors out of millions. However, unlike many celebrities who have been caught in similar schemes, Kanye turned it down—and exposed the shady tactics behind it. Let us take a closer look at what went down.
The Offer
According to Kanye, he was approached via X DMs with a lucrative yet shady deal. The terms of the offer were as follows:
- $750K upfront just for posting about the coin on X
- $1.25M after 16 hours
- The post had to stay up for at least 8 hours
- After 8 hours, Kanye was instructed to claim, “My account was hacked”
This Could Have Turned Out Ugly
Had Kanye accepted, the $YE memecoin would have likely seen a massive price spike due to his influence. This is exactly what the coin’s creators were hoping for—to create artificial hype, pump the price, and then dump their holdings, scamming investors out of tens of millions before the inevitable crash. By rejecting the offer, Kanye just saved a major disaster for countless unsuspecting people who might have fallen for the scam.
Memecoins and Celebrities
Kanye revealing the offer highlights the shady side of crypto promotions, showing how influencers can hype up worthless coins without care for the damage done to investors. It also exposes how celebrities are often used to manipulate markets, cashing in on the chaos while leaving investors to bear the losses. And with crypto largely unregulated, these scams continue to thrive, preying on those hoping to make a quick profit.
Final Thoughts
In conclusion, Kanye’s decision to turn down the $2 million offer is a rare moment of integrity in the chaotic memecoin space. And while he is no stranger to controversy, this time, he might have made the right call. His refusal sheds light on the shady tactics used to manipulate the crypto market and serves as a reminder of the risks involved.
