Ye, formerly known as Kanye West, may be set to launch a cryptocurrency called YZY, marking his latest move in a long string of business ventures.

What Happened: Quoting sources familiar with the project, Coindesk reported that the token is intended to serve as the official currency of his Yeezy brand while allowing him to sidestep traditional financial platforms that have distanced themselves from him due to his public controversies.

The YZY token’s structure has already raised concerns.

Seventy percent of its total supply will be allocated to Ye himself, with only a small portion set aside for investors and liquidity.

This centralized ownership model closely resembles…

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