Bubblemaps Reveals 74% of Kanye West's YZY Investors Have Lost Money

According to the blockchain analysis company @bubblemaps, over 70% of traders who bought Kanye West's YZY memecoin based on Solana have incurred losses. Out of 70,201 wallets trading YZY tokens, 51,862 wallets, equivalent to 73.8%, have recorded losses, totaling nearly $74.8 million, the platform revealed in a post on X on Wednesday. More than 1,000 wallets lost over 10,000 dollars each. A small number of YZY traders are profitable because profits are concentrated in top wallets. On the contrary, only 18,333 wallets are profitable, but the profits are not distributed evenly. Most profitable wallets earn less than $1,000, while just 11 wallet addresses account for nearly 30% of total profits, equating to $66.6 million in earnings from all winning wallets. YZY, short for Yeezy Money, launched last Wednesday with extensive promotion on West's official website and social media channels. Promoted as a way for users to control their finances, this token quickly lost momentum. Just a few hours after its launch, the price of YZY dropped by nearly 70%, raising allegations of manipulation. The bubble map highlights suspicious activities including sniping, a tactic where bots collect a large portion of the token supply just seconds after launch. A wallet identified as belonging to a trader named "Naseem," previously associated with the profits of Trump's memecoin DJT, has been marked as the first investor of YZY. Another important figure mentioned by Bubblemaps is Hayden Davis, a participant in many famous token launches. Davis is said to have earned 12 million dollars from YZY. Previously, he was involved in Libra and other coins that collapsed shortly after their release. #Bubblemaps wrote in a post on X that: "The strategy is very simple: Get in on the major launches, participate early and make millions of dollars." "Everything is happening right before our eyes and no one can stop it."

Notably, West had previously distanced himself from the memecoin trend, stating that such tokens "attract fans through hype." Kanye West denies involvement with the YZY token, citing a hacked account. On Wednesday, West denied involvement with the YZY-themed memecoin, stating that his Instagram account had been compromised. This statement was posted on West's X account (formerly known as Twitter) on August 26, in which he wrote: "My Instagram has been hacked and it is tracking a fake coin... The official project is @YZY_MNY." Then, he continued to promote another project, along with a new Solana wallet address. No additional detailed information has been provided about how the alleged compromise occurred or who may be behind the initial launch. This situation increases the number of controversies surrounding cryptocurrencies related to celebrities in 2024 and 2025, raising ongoing questions about how memecoins are launched, endorsed, and sold on platforms with limited oversight. Meanwhile, West's YZY token seems to have set a record for the fastest collapse, losing 90% of its value in just one day, despite reaching a market capitalization of 3 billion dollars. $BMT {spot}(BMTUSDT)