Kanye West, also known as Ye, generates newspaper headlines, this time in the coded currency area.
Declared the controversial musician and businessman Launching an encrypted currencyYzy, with the aim of creating an independent financial environment from traditional payment platforms.
This course of work began after many organizations cut their relationships with him because of the previous scandals.
A bold attempt for financial independence
Since companies and large banks avoid Kanye WestYzy is promoted as a tool to regain control of its commercial activities.
You will get 70 % of all YZY codes, with 10 % customization for liquidity and 20 % given to buyers. Some people who do not like the amount of Power West on the project raised concerns about centralization.
Reports say that Tracking code It will be the basic way people pay for Yeezy products. This will allow direct transfers that are not affected by banks or payment processors. You want more freedom, and this behavior is appropriate for that, especially since Shopify has deleted the e -commerce site in Shopify.
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Distinguished code customization:
Exactly 70 %
🔹10 % liquidity
🔹20 % for investors📩 Details of the project were revealed in an e -mail message by Yeezy CFO … pic.twitter.com/jthcgtfbb4
Follow (followin_io) February 21, 2025
Steel start and delay
Although no specific reason is given, the distinctive symbol of the YZY – scheduled to be held in general to launch Thursday – was paid to Friday. Many industrial monitors speculate that technical or strategic changes at the last minute may be the cause. Regarding encrypted currencies, these delays are not rare; However, they sometimes refer to more serious problems in the implementation of the project.
Nevertheless, YE followers and Bitcoin fans are monitored with attention to launch the distinctive symbol to verify whether or not it is successful.
BTCUSD trading at $96,675 on the daily chart: TradingView.com
Conflicts and issues related to centralization
The large allocation of Yzy currencies for you raised concerns about potential manipulation of the market and long -term stability.
Use expected price fluctuations have always caused great symbolic concentrations of cryptocurrencies under the control of one company. According to analysts, early excitement may cause prices to rise shortly before a sharp drop, which will be a nightmare for investors.
Moreover, even if the YZY team suggests a period of time to prevent unexpected sales, concerns relate to whether the structure really protects ordinary investors or if the informed benefit more than it.
The possibility of the future Yzy
Yi's transfer to Bitcoin market is a major shift in his position on work. Whatever the result of YZY, it highlights the importance of Blockchain technology increasingly in resolving traditional financial challenges.
Currently, all eyes are on the distinctive symbol and the market reaction. Will Yzy become a revolutionary financial tool for you and its brand, or will it face under the weight of controversy and doubt? The next few weeks will say.
Distinctive image from Getty Images, the tradingvief chart