K anye West has once again stirred up the internet, this time with a bold revelation about a cryptocurrency scam offer. In a tweet shared on X (formerly Twitter) late Friday, the rapper and entrepreneur claimed that an entity approached him with an offer of $2 million to launch a fraudulent memecoin. Ye, however, turned it down, cutting ties with the person behind the proposal.
West, known for his unpredictable social media outbursts, has been on a tweeting spree over the past 24 hours, keeping the internet captivated. However, his recent revelations have particularly caught the attention of the crypto community, which has been increasingly wary of celebrity-backed token launches.
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 pic.twitter.com/WKHdP9FkOq
— ye (@kanyewest) February 7, 2025
A Growing Trend of Celebrity Memecoins
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 pic.twitter.com/WKHdP9FkOq
— ye (@kanyewest) February 7, 2025As cryptocurrency becomes more mainstream, numerous celebrities and influencers have jumped on the memecoin bandwagon. Public figures like Hailey Welch (Hawk Tuah girl), Iggy Azalea, and even former U.S. President Donald Trump have leveraged their fame to introduce memecoins. Unfortunately, several of these ventures have turned out to be blatant scams, leading to financial losses for their followers.
Hailey Welch’s $hawktuah token and Andrew Tate’s $Father are recent examples of projects that drained liquidity from investors. Welch has since vanished from the public eye, while Tate continues to battle legal issues, including human trafficking, rape, and tax evasion charges in Romania and the United Kingdom.
Kanye Receives Praise for Rejecting the Scam
According to West, the scam offer involved an upfront payment of $750,000 just for accepting the deal, with an additional $1.25 million promised 16 hours after his first post about the token. The condition? Kanye had to keep the tweet up for at least eight hours before posting a denial, claiming his account had been hacked.
“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,” West tweeted, attaching a screenshot of the conversation.
In the leaked chat, the unidentified party explicitly admitted that the scheme would ultimately cost investors tens of millions of dollars. Despite the tempting offer, West refused, winning widespread praise from the crypto community for upholding his integrity.
Is Kanye West Planning a Memecoin Launch?
Shortly after rejecting the scam offer, West sparked further speculation by sharing another conversation in which he asked for a “crypto connect” that wouldn’t require a middleman. The person he was speaking with recommended Brian Armstrong, the CEO of Coinbase. This has led to speculation that Kanye may be exploring the idea of launching his own memecoin—potentially on Base, the blockchain associated with Coinbase.
According to popular Solana influencer Nick, West may have already partnered with Meteora, a firm known for handling high-profile token launches. The same group is reportedly working with Barstool Sports’ Dave Portnoy on an upcoming project. Meteora was also behind the $Trump token, which gained significant traction in the crypto space.
Crypto enthusiasts, including BitMEX co-founder Arthur Hayes, have urged Kanye to move forward with a memecoin launch. Meanwhile, Mert Mumtaz, CEO of Solana developer tools firm Helius, suggested that West—who has recently made controversial statements about Adolf Hitler—could create a “Hitler” token on Ethereum. Mumtaz sarcastically implied that such a move would help revitalize Ethereum’s struggling market.
What’s Next for Kanye in Crypto?
As the crypto community continues to react to West’s revelations, speculation is mounting over whether he will take the plunge into the memecoin space. Some argue that launching on Solana or Base would be a smarter choice due to their lower transaction fees. However, given Kanye West’s unpredictable nature, only time will tell whether he truly intends to enter the crypto world—or if this is just another headline-grabbing moment in his ever-controversial career.
0 Comments