From Coinye to YZY: Kanye West's Meme Coin Venture and the Evolution of the Blockchain

Ye has sent a series of tweets this week about blockchain and his plans to launch his own token. His actual plans remain vague, he has suggested the token could be called YZY

Kanye West has announced plans to launch his own cryptocurrency token, following a series of tweets on the subject this week.

The rapper, now known as Ye, has been teasing the launch of a coin named YZY since February, with suggestions that it could be an ERC-20 token on the Ethereum blockchain.

However, recent posts and interactions, including with Binance co-founder CZ, indicate that the plan may have changed.

Ye has also denied knowing Barkmeta, a Twitter account that many suspected was running Ye’s coin project. This now appears not to be the case.

Coinye: The 2014 Meme Coin

Nearly a decade before the current meme coin shenanigans, there was a coin called Coinye. Launched in early 2014, Coinye was a Litecoin fork inspired by a South Park episode (“Fishsticks”) parodying Kanye West as a “gay fish.”

It faced cease and desist letters from West’s lawyers, but the original developers disappeared, and the coin continued, showcasing decentralized resilience. Coinye uses the Scrypt algorithm, has a max supply of 133,333,333,333 coins, and remains operational with community support, including mining pools and wallets.

This Fishsticks episode, aired on April 8, 2009, featured a viral joke about fish sticks that became associated with Kanye West, portraying him as not understanding the humor but eager to claim credit.

The coin, named Coinye, was a playful take on West’s name, reflecting the meme culture prevalent in early cryptocurrency circles.

Coinye’s technical foundation mirrored Litecoin, utilizing the Scrypt algorithm for mining, with a block time of approximately 90 seconds and a maximum supply of 133,333,333,333 coins. Its creation was driven by anonymous developers, aiming to capitalize on the parody’s popularity.

However, legal troubles soon arose. Kanye West’s legal team issued cease and desist letters, demanding the cessation of using his name and likeness, as documented in mirrored legal notices available at Coinye Official Website.

The fascinating and highly entertaining legal letter from Kanye’s lawyers in 2014

The original developers disappeared, but the decentralized nature of the network ensured Coinye’s survival, demonstrating the resilience of such systems against centralized legal pressures.

The coin’s community adapted, establishing resources like mining pools (e.g., GayFishPool at GayFishPool) and faucets, with wallets available for Windows, Linux, and Mac, as detailed on Coinye Official Website.

Coinye’s persistence is evidenced by its continued operation, with network stats accessible at Coinye Network Stats, and block explorers like Coinye Unofficial. This longevity underscores its status as one of the first parody alt-coins, thriving despite initial legal threats.

Coinye, the Kanye Memecoin from 2014 that everyone forgot, Source: Coinye

Technical Specifications of Coinye

Ye’s Meme Coin Venture: YZY and the Blockchain

Turning to the present, Ye’s foray into cryptocurrency marks a significant shift. Recent reports from February 2025, suggsted Ye plans to launch a meme coin named YZY, leveraging the Ethereum blockchain as an ERC-20 token. However subsequent X posts and interactions, including with CZ, Binance’s co-founder, suggest a change of heart. Just as Ye became notorious for constant delays to the release of his albums, the same cycle now appears to be playing out with the release of his coin. Ye seems to thrive in the face of chaos, changing plans and release dates on a whim. This is a symptom of bi-polar disorder, a condition he struggles with.

Polymarket users suggest a 63% chance Kanye will launch a coin in February, Source: Polymarket

The Irony and Evolution: From Parody to Participation

The juxtaposition of Coinye and YZY presents a full circle moment. Coinye, born from a parody without Ye’s involvement, faced legal opposition but persisted through decentralization.

In contrast, YZY, or whatever it ends up being, represents Ye’s attempt to control and profit from the meme coin space, with significant centralized ownership. This shift highlights the evolution of meme coins from proof-of-work systems like Coinye to token-based models on blockchains like Ethereum, reflecting broader trends in cryptocurrency adoption.

Recent reports suggest Coinye was revived in 2024 as an Ethereum ERC-20 token on the Base network, as noted in The Big Whale Article, indicating adaptation to modern blockchain technologies. This revival, however, does not detract from the original Coinye’s operational continuity as a proof-of-work coin, showcasing the dual existence of legacy and new forms.

As meme coins continue to blend humor, satire, and financial speculation, the journey from Coinye to YZY exemplifies