The post Kanye West Teases YZY Card, Crypto Payments Amid Controversial Token Launch appeared on BitcoinEthereumNews.com. Kanye West’s Yeezy Money token launched on Solana with promises of a payments revolution, only to face insider concentration concerns. U.S. hip-hop provocateur Kanye West, known as Ye, has launched a Solana-based token called Yeezy Money (YZY), teasing a sprawling crypto payments ecosystem that puts his brand — and his fans’ wallets — squarely in the spotlight. In a Thursday announcement on X, West wrote: “Yeezy Money is here… A new economy, built on chain,” sharing the token’s contract address and a link to a website for buying, selling, and sending YZY. An alleged design of the YZY Card The YZY ecosystem, according to West’s website, includes “Ye Pay,” a payment processor allowing merchants to accept credit and crypto payments, and the “YZY Card,” a non-custodial debit card for spending YZY tokens and stablecoins like USDC and USDT at merchants worldwide. Checkout Options As of now, YZY appears as a checkout option on West’s official merchandise site, though it is not yet functional. Only 15% of Traders Profit The token’s debut was turbulent. YZY briefly surged to a $3 billion market capitalization within 40 minutes of its launch before retreating to around $1.05 billion, according to Dexscreener. Analytics firm Nansen shared data with The Defiant showing that over 60,000 wallets traded YZY within the first day. Of these, only 9,413 wallets realized profits of more than $10. There are also clear signs of fading memecoin hype as YZY logged just $724 million in first-day trading, well below the $29.5 billion generated during the debut of U.S. President Donald Trump’s memecoin. YZY Chart Concerns about insider concentration quickly followed. Coinbase director Conor Grogan noted in an X post that a large portion of the token supply was initially held by insiders, with one multi-signature wallet controlling as much as 87% at… The post Kanye West Teases YZY Card, Crypto Payments Amid Controversial Token Launch appeared on BitcoinEthereumNews.com. Kanye West’s Yeezy Money token launched on Solana with promises of a payments revolution, only to face insider concentration concerns. U.S. hip-hop provocateur Kanye West, known as Ye, has launched a Solana-based token called Yeezy Money (YZY), teasing a sprawling crypto payments ecosystem that puts his brand — and his fans’ wallets — squarely in the spotlight. In a Thursday announcement on X, West wrote: “Yeezy Money is here… A new economy, built on chain,” sharing the token’s contract address and a link to a website for buying, selling, and sending YZY. An alleged design of the YZY Card The YZY ecosystem, according to West’s website, includes “Ye Pay,” a payment processor allowing merchants to accept credit and crypto payments, and the “YZY Card,” a non-custodial debit card for spending YZY tokens and stablecoins like USDC and USDT at merchants worldwide. Checkout Options As of now, YZY appears as a checkout option on West’s official merchandise site, though it is not yet functional. Only 15% of Traders Profit The token’s debut was turbulent. YZY briefly surged to a $3 billion market capitalization within 40 minutes of its launch before retreating to around $1.05 billion, according to Dexscreener. Analytics firm Nansen shared data with The Defiant showing that over 60,000 wallets traded YZY within the first day. Of these, only 9,413 wallets realized profits of more than $10. There are also clear signs of fading memecoin hype as YZY logged just $724 million in first-day trading, well below the $29.5 billion generated during the debut of U.S. President Donald Trump’s memecoin. YZY Chart Concerns about insider concentration quickly followed. Coinbase director Conor Grogan noted in an X post that a large portion of the token supply was initially held by insiders, with one multi-signature wallet controlling as much as 87% at…

                                                                               Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle.                     Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more