Kanye West followed an account called "YZY MONEY" on X, instantly igniting the crypto world. An unrelated YZY-themed coin skyrocketed to a market capitalization of $120 million on Pump Fun, only to crash back down to $7.5 million in seconds. One guy invested $750,000 and lost $500,000 in the blink of an eye. Crypto world analyst Bubblemaps issued an urgent warning: scammers have started creating fake $YZY coins, don't fall for it.

What's even more astonishing is that Kanye himself didn't release any token announcement; just this one follow action can create such a stir. Back in February, a tweet of his "WHEN PEOPLE MAKE ALL THAT MONEY WITH A COIN IS THAT CASH OR CONCEPT🤔" had crypto enthusiasts eagerly anticipating him launching a coin.

The timing isn't bad—reportedly, Kanye is selling off his Los Angeles properties due to tax debts and lawsuits. His Yeezy product line (the ones with Nazi symbols) has been banned by Shopify, which also claims it withheld $4 million from him. His net worth has been slashed from $2.77 billion to $350 million. Can this wave of coins help him recover? We'll see.