Kanye West Alleges $2 Million Offer for Scam Token Launch
Kanye West, the controversial and influential rapper, has made waves in the crypto community after claiming he was approached with an offer of $2 million to launch a fraudulent cryptocurrency token. The claim was made in a tweet on X (formerly Twitter) late Friday, where he stated that he turned down the offer and severed ties with the individual behind the proposition.
Ye’s Twitter Rampage Captivates the Crypto Community
Over the past 24 hours, Kanye West has been on an intense tweeting spree, keeping the internet on edge. While much of his online activity has been the subject of intrigue, a few posts have stood out, particularly within the cryptocurrency sector.
As cryptocurrency continues to embed itself in mainstream culture, celebrities and influencers have leveraged their popularity to launch memecoins. Figures such as Hailey Welch (known as “Hawk Tuah” girl), Iggy Azalea, and even U.S. President Joe Biden have dabbled in token launches. However, many of these celebrity-backed tokens have resulted in financial losses for investors, with some projects outright labeled as “rug pulls.”
The crypto world has witnessed notable scams, including Hailey Welch’s $hawktuah token and Andrew Tate’s $Father coin, both of which drained liquidity from the ecosystem and left investors at a loss. While Welch has since retreated from the public eye, Tate continues to grapple with serious legal charges, including human trafficking, rape, and tax evasion in Romania and the United Kingdom.
Kanye West Praised for Rejecting Scam Offer
In his tweet, Kanye revealed that he was offered $750,000 upfront simply for agreeing to launch the token, with an additional $1.25 million promised if he promoted it on X. The only condition? He had to leave the tweet up for at least eight hours before later claiming, “My account was hacked, the post was not me.”
A screenshot shared by Kanye exposed a conversation where the anonymous individual admitted that the scheme would ultimately cost investors tens of millions of dollars. Ye, however, refused to participate, reinforcing his stance against defrauding his followers.
Shortly after, Kanye posted another message, asking an unidentified contact for a “crypto connect” that would allow him to enter the market without a middleman. The individual suggested Brian Armstrong, the CEO and co-founder of Coinbase, prompting speculation about whether Kanye is considering a move into cryptocurrency—possibly on Base, Coinbase’s Ethereum layer-2 blockchain.
His decision to reject the offer has earned him widespread praise from the crypto community, which has become increasingly frustrated with celebrities launching scam tokens and later claiming to have been hacked.
Is Kanye West Planning to Launch His Own Memecoin?
According to a well-known Solana influencer named Nick, Kanye may already be collaborating with Meteora, a firm specializing in token launches. Nick also claims that Dave Portnoy, founder of Barstool Sports, is working with the same team on an upcoming token launch. Meteora is best known for its involvement in the successful launch of the $Trump token.
Meanwhile, the crypto world is abuzz with suggestions and speculation. Arthur Hayes, co-founder of BitMEX, is among those encouraging Kanye to enter the crypto space with his own token.
Mert Mumtaz, CEO of Helius—a firm specializing in Solana developer tools—also weighed in on the drama. In a controversial suggestion, he proposed that Kanye, who has been making inflammatory remarks about Adolf Hitler on X, launch a “Hitler” token on Ethereum. Mumtaz linked the idea to a broader political narrative, suggesting that if Trump were re-elected, he might facilitate a Kanye-backed memecoin launch on Ethereum, reviving the network’s popularity.
What’s Next for Kanye in Crypto?
While some crypto traders and enthusiasts are pushing for Kanye to launch his memecoin on Solana or Base—citing lower gas fees—the rapper remains an unpredictable figure. Whether he takes the plunge into crypto or merely enjoys teasing the idea remains to be seen. One thing is certain: the speculation around Kanye West and his potential entry into the crypto market is far from over.
Political art perfected! Trump Coin shows how timing breeds excellence.