Kanye West’s YZY Solana token experienced a dramatic 90% crash within hours of its launch, raising concerns about market manipulation and potential insider control. While the initial surge generated a $3 billion market cap, subsequent selling spree caused volatility in the platform. 70% of the token’s supply is reportedly held by Kanye West himself, sparking suspicions among traders and investors. The incident highlights risks associated with celebrity-backed cryptocurrencies, potentially mirroring past controversies involving similar ventures. Market experts like Arthur Hayes expressed skepticism about the project’s transparency and stability, while Reddit communities debated its future implications for the growing memecoin space. As the market continues to recover, individual investors have experienced significant financial losses, emphasizing the need for due diligence before investing in such volatile assets. The absence of regulatory response from the SEC further emphasizes the volatility in the cryptocurrency segment, especially with the potential influence of celebrity endorsements on market behavior.