Introduction
The controversy surrounding Kanye Westβs X account has sparked intense speculation in the crypto space. Reports suggest that Kanye Westβs X account was sold to Barkmeta for $17 million, possibly to promote a meme coin called $YZY. Given Barkmetaβs history of involvement in past crypto scams, concerns are rising about whether this is another “rug pull” that could harm retail investors.
This article breaks down the key details, the players involved, and what it means for the crypto community.
Key Points:
- Kanye Westβs X account was allegedly sold to Barkmeta, a well-known crypto figure, for around $17 millionβthough there is no concrete proof yet.
- Research suggests the account may be used to promote a meme coin, $YZY, raising fears of a potential crypto scam that benefits insiders while harming retail investors.
- Barkmeta has a history of controversial crypto projects, including the POX token rug pull (2022) and DeFiApes NFT collapse (2023), further fueling concerns.
- Kanye West previously denied launching a meme coin, adding to the confusion and controversy.
Background: Kanye Westβs X Account & Crypto Rumors
Kanye West, now legally known as Ye, has long been a polarizing figure in music, fashion, and social media. His X account was deactivated in early February 2025 after a series of offensive posts, including antisemitic and racist remarks. However, by late February, rumors surfaced suggesting that the account had been sold to Barkmeta, a crypto entrepreneur with a controversial past.
The speculation gained traction as posts hinted at a meme coin launch, leading many to believe the account was being used for financial gain at the expense of retail investors.
Barkmeta: A History of Crypto Controversy
Barkmeta is a known figure in the NFT and crypto community, often linked to questionable projects. Some of the biggest controversies include:
- POX Token Rug Pull (2022): Investors lost millions after the project collapsed.
- DeFiApes NFT Collapse (2023): Raised over $40 million, but was abandoned, causing a 90% value drop.
- Allegations of running pump-and-dump schemes and paying others to manage his X account.
With this track record, concerns about $YZY being another rug pull are growing.
The $YZY Meme Coin: Legit Project or Scam?
Rumors indicate that the $YZY meme coin, allegedly tied to Kanye West, is being promoted via the X account now controlled by Barkmeta. The project raises several red flags, including:
- Lack of transparency on who is behind the coin.
- Inconsistencies with Kanye Westβs past statements (he denied launching any meme coin).
- Speculation that insiders will make millions while retail investors suffer losses.
Given Barkmetaβs history, industry experts strongly caution against investing in $YZY without verified legitimacy.
Community Reactions & Investor Warnings
Crypto analysts, including on-chain investigator Blade, have raised alarms about the situation. Some key points from the community include:
- 95% certainty that Kanye Westβs X account was sold.
- Evidence from posting style changes and new connections to Barkmeta.
- Community notes on X warning users about potential scams.
With past meme coin scams still fresh in investorsβ minds, skepticism is high.
Table: Timeline of Key Events
| Date | Event/Claim | Source |
|---|---|---|
| Feb 10, 2025 | Kanye West’s X account deactivated due to offensive posts | Kanye Westβs X Account Deactivated After Latest Spree of Offensive Posts |
| Feb 9, 2025 | Kanye West denies meme coin launch | Kanye West drops the mic on meme coin launch rumors: ‘I’m not doing a coin’ |
| Feb 23, 2025 | Rumors of account sale to Barkmeta for $17M-$20M | Market News: Kanye is suspected of selling the publishing rights of X account for $20 million |
| Feb 22, 2025 | Kanye West hints at $YZY meme coin launch | Kanye West Hints at Crypto Meme Coin Launch Amidst Mixed Celebrity Track Record |
| 2022-2023 | Barkmeta linked to POX token rug pull, DeFiApes collapse | Kanye West’s X Account Sold? Barkmeta Link Sparks Meme Coin Rug Pull Fears |
Investor Takeaway: Stay Cautious
Given Barkmetaβs controversial past and Kanye Westβs denial of involvement, investors should be extremely cautious before considering $YZY or any related projects. Always:
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Verify sources before investing.
β
Avoid hype-driven meme coins with no clear backing.
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Stay informed to protect against potential scams.
The full truth about Kanye Westβs X account sale is still unclear, but past crypto scams serve as a warningβproceed with extreme caution.
Conclusion
As of February 26, 2025, the situation remains uncertain, with rumors of Kanye Westβs X account sale and a possible $YZY meme coin scam fueling intense speculation. With Barkmetaβs past rug pull scandals, the crypto community is rightfully skeptical.
For now, investors should wait for verified information and approach meme coin projects with cautionβespecially when linked to controversial figures and potential fraud risks.
π¨ Stay informed. Stay safe. Stay skeptical. π¨