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Cryptocurrency Cointelegraph

Kanye West’s YZY token: 51,000 traders lost $74M, while 11 netted $1M

Over 70,000 wallets piled into the YZY memecoin, but most lost money as its price collapsed by over 80%, underscoring the risks of celebrity-backed tokens.

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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

Kanye West’s YZY token: 51,000 traders lost $74M, while 11 netted $1M

Over 70,000 wallets piled into the YZY memecoin, but most lost money as its price collapsed by over 80%, underscoring the risks of celebrity-backed tokens.

Why this matters

This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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Read on Cointelegraph

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