Kanye West and Cardano: Separating Fact from Fiction
In a recent development that caught the attention of the cryptocurrency community, Charles Hoskinson, the visionary behind Cardano, has firmly quashed any speculation linking Kanye West, now known as Ye, to a potential token launch on the Cardano blockchain. Hoskinson took to social media platform X (previously known as Twitter) to address and dismiss these claims, emphasizing Cardano’s dedication to remaining a credible and reputable project within the crypto sphere.
The Unfounded Kanye West Token Rumor
“Hello everyone, just a quick video to clarify that Kanye West is not planning any token launch on Cardano,” stated Hoskinson. “While there are rumors circulating, it appears there is no substantial activity from his end. There are also claims that he sold his Twitter account for a staggering $17 million to a group called Barkmeta, allegedly for a scam. Regardless, we are not interested in such drama here.”
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Hoskinson continued, “Cardano is a project with seriousness and integrity. We do not serve as a platform for questionable projects. Thank you for the weekend’s drama, but there is no Kanye West involvement here.”
Origins of the Controversy
The controversy ignited on Friday, following assertions from three insiders within Ye’s circle suggesting the artist was contemplating the launch of a token dubbed YZY, a nod to his Yeezy fashion line. According to these insiders, a significant portion—70%—of the token’s distribution was to be allotted to Ye himself, with 10% allocated for liquidity and 20% reserved for potential investors.
The YZY token was rumored to be Ye’s strategy to circumvent traditional payment and e-commerce platforms, such as Shopify, which severed ties with him in light of his recent controversial and antisemitic remarks. Ye’s pivot towards the crypto domain is perceived by some as an attempt to salvage his brand following his disassociation from major partners like Adidas and Balenciaga, after he made repeated inflammatory statements on public platforms.
The X Account Sale Speculation
Parallel to the token rumors, chatter emerged about Ye allegedly selling his X account (@kanyewest) for a whopping $17 million to a memecoin group identified as @barkmeta, purportedly for a large-scale scam. Crypto influencer Loki The Bird (@lokithebird) added fuel to the fire, claiming: “Kanye West sold his account to the BarkMeta Doginals team for $17M—they’re poised to deceive the entire crypto space. Share to raise awareness and protect Web3.”
An image also circulated, displaying two phones supposedly logged into both @barkmeta and @kanyewest simultaneously. Nevertheless, Ye swiftly rebutted these claims, stating, “This is false, I am not involved with these people nor have I sold my account.”
Cardano Stays Focused
Hoskinson’s firm denial of any formal association with Ye reflects Cardano’s ongoing commitment to upholding its image as a project of integrity and seriousness. While blockchain’s decentralized nature means building on Cardano doesn’t require explicit permission, Hoskinson clarified: “Ye seeks financial help and support for this venture. No serious participants in the Cardano ecosystem will engage with such a project,” effectively shutting the door on any potential collaboration.
As of the latest updates, ADA is trading at $0.74, remaining below the 0.236 Fibonacci level on the one-week chart.
