YZY Token Plunges, Underscoring Risks of Celebrity-Backed Crypto

Kanye West’s YZY token experienced a dramatic market downturn, plummeting from $3 billion to just $1.05 billion in less than 40 minutes. This rapid decline has raised concerns about market manipulation and the volatile nature of meme coin investments. The collapse highlights the potential risks associated with celebrity-endorsed cryptocurrencies and raises questions about transparency and governance within these projects.