Kanye meme coin YZY allegedly operated by the LIBRA team, with internal Wallet and million-level sniper profits exposed.

After six months of silence, the famous rapper Kanye West finally officially launched the MEME coin YZY, with a video featuring himself endorsing the project. However, this coin issuance action, backed by the star's aura, was revealed by on-chain data within just a few hours to have a high level of control the market trend, internal Wallets engaging in arbitrage, and the involvement of well-known million-level "initial sniper" controversies, leading to suspicions of connections with the notorious Argentine President coin LIBRA's operating team.

Coin issuance details: high ratio of internal control the market trend, circulation only 30%

According to the official tokenomics:

20% public offering;

10% liquidity pool;

30% allocated to Yeezy Investments LLC (locked for 3 months, 24 months linear release);

20% Team (locked for 6 months, 24 months linear release);

20% ecological fund (locked for 12 months, linear release over 24 months).

This means that over 70% of the tokens are held internally, with a very low proportion circulating in the public market, providing ample space for price manipulation.

On-chain Revelation: Internal Wallets Jumping Ahead for Arbitrage

Although the team claims to have deployed 25 contract addresses in advance to prevent front-running attacks and randomly selected one to activate, on-chain analysis shows that internal funds had already been laid out in advance:

Wallet 6MNWV8: Know the contract address in advance, spend 450,611 USDC to buy 1.29 million YZY at $0.35, then sell 1.04 million to cash out $1.39 million, with the remaining token value approximately $600,000, and a profit of over $1.5 million.

Another insider: spent 450,000 USDC through two Wallets to buy 1.89 million YZY at $0.24 and sold 1.59 million at $2.12, cashing out 3.37 million USDC.

There is a Wallet for priority trading payment of 129 SOL (about 24,000 USD) priority fee.

Conor Grogan, a major CEX executive in the United States, pointed out that at least 94% of YZY is held internally, with 87% previously controlled by a single multi-signature Wallet.

Million-Level 'First Release Sniper' Strikes Again

On August 22, Bubblemaps analysis showed that the well-known trader Naseem, who had profited over 100 million USD through the TRUMP token, made another precise strike and became the first buyer of YZY.

August 21: Naseem bought YZY for $250,000

Current record: cashed out 800,000 USD, still holding YZY worth approximately 600,000 USD.

On-chain association: Bubblemaps indicates that Naseem is highly correlated with the initial sniper of multiple mainstream coins (such as TRUMP, HAWK, LIBRA), and his trading behavior has sparked discussions in the market about whether he is a professional sniper or an insider.

The trading mode is suspected to copy LIBRA

The cryptocurrency KOL scooter, who once revealed the inside story of LIBRA, stated that the token model of YZY is highly similar to LIBRA, and it can be 99% certain that LIBRA advisor Hayden Davis is involved.

Coincidentally, just hours before the release of YZY, a U.S. judge lifted the freeze on $57.6 million in funds for the initiators of Libra.

Star Effect + Rapid Hype: Market Value Soars and Plummets

Partners: Meteora, Jupiter, MoonPay

Online for 15 minutes: Climbing the Moonshot Hot List

GMGN Data: Market capitalization once exceeded 3.4 billion USD, now it has fallen below 1 billion USD.

Daily trading volume: over 380 million USD

Transaction fee income: Over 2,500 SOL

Legal Firewall: Class Action Waiver Clause

The YZY official document clearly states that investors shall not initiate or participate in any class action lawsuits against the project party, and must bear the legal fees and litigation costs incurred by the project party to prevent lawsuits. This move is seen as a preemptive "shield" to guard against potential legal disputes.

Kanye's Attitude Reversal and Controversy Over Coin Issuance Motivation

February 2024: The planned issuance of YZY has been postponed due to the Rug event involving the Argentine presidential coin.

Past statement: Publicly rejected issuing coins, calling token speculation "deceiving fans".

Recent behaviors: Deleting tweets, frequently following major figures in the crypto space, leading to external speculation.

NFT Criminal Record: Issued an NFT single in 2021, then declared refusal of NFTs.

This shift in attitude from resolutely resisting to personally getting involved has raised doubts among outsiders about its motives for issuing coins and the underlying capital forces.

Additional Products: Ye Pay and YZY Card

Ye Pay: A cryptocurrency payment processor with transaction fees lower than the traditional 3.5%, supporting credit card and cryptocurrency payments.

YZY Card: Can be used globally to spend YZY, USDC, and USDT, and supports shopping for Yeezy brand.

Conclusion

Kanye's YZY coin issuing plan, combining celebrity effect, capital operations, and high control the market trend token economy, ignited market enthusiasm in a short period. However, the on-chain data reveals internal rushes, participation of million-level snipers, and highly concentrated holdings, which cast a thick layer of controversy over this "crypto show." Is this an attempt at brand innovation, or a carefully planned capital game? The market may soon provide an answer.