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A growing cult thinks that Ye stealth launched a memecoin on Solana
A series of circumstantial coincidences makes this theory feasible
The market cap has fluctuated between zero and $25m in the past 2 weeks
If you’re in Resell Calendar, you’ve probably noticed me going off the crypto deep end for the past week or so.
This one goes out to you, and/or anyone else interested in my take on the YZY situation.
Note: I’m not here to do a background on meme coins. You can find that here if you’re a noob.
It was 6:16 PM LA time, February 7th when @kanyewest shared this photo revealing text messages from who we will refer to as “Hater”.
(censored so that Google doesn’t murder us)
This followed his tirade of… a lot of tweets. So it sort of blended in at the time.
But, for those that saw the post and decided to text Hater’s phone number, they eventually got sent a link to this PumpFun:
At face value: Hater found Ye’s number, texted him, and then 12 hours later decided to launch a PumpFun to try and make some money off of the publicity…
Except there’s some weird stuff with this coin. For one, it was created off-chain.
This means that Hater didn’t purchase any of the coin at launch — so they have no immediate financial stake in the project. Odd thing to do if you’re an internet opportunist whose phone number Yeezy leaked to millions of people.
Okay, maybe the creator was sneaky and bought tokens early off of other addresses.
Well… maybe. But it doesn’t really seem like that either. The early buys are for peanuts, and transaction volume doesn’t really pick up until a few days after the number starts sending people the CA.
Keep this in the back of your head for now.
Enter JewMoney.
On February 12th, a new PumpFun account without a wallet attached named JewMoney posts a reply to the PumpFun created by Hater:
Trivia: can you decipher the bleeped out word?
Lo and behold, JewMoney has also released a coin called $YZY — the very one this whole article is about.
Remember how I said that Hater’s coin was created off-chain? So was JewMoney’s. Furthermore, JewMoney’s coin didn’t get a single buy for nearly a week after launch, until it mysteriously caught a flurry of bids on February 17th.
While Hater’s coin ultimately died, JewMoney’s coin went on to garner a massive cult community and market cap to match.
So, to summarize so far:
The takeaway: I can theory craft all day, but something weird is undeniably going on with these launches – and they don’t match the M.O. of your everyday crypto scammers. What gives?
Disclaimer: I am not a chart expert. Leave me alone.
So, JewMoney’s coin (which we will just call $YZY from now on) graduates off of PumpFun and does the natural PumpFun thing: wicks up to ~$500k and nukes. But then, instead of fully dying, it lays in this $100k valley and forms this weird accumulation pattern.
In a thirsty market, people start speculating and coping: “Maybe this really is Ye!”. Some weird whale wallets buy. On February 18th, the thing runs up to around $3.5m, only to once again nuke.
It’s all over… Everyone sell…
But wait! Another run-up on the 19th! Oh wait.
Shoot. Another nuke. Darn. Time to really sell now, fellas.
But then something crazy happens, and without much of a catalyst. Yeezy runs to almost $15m. Just faith, trust, and pixie dust baby. Well, and speculation. Monkey see monkey ape on their wallet tracker, monkey do.
And just when it’s about to make another leg up, almost TO THE MINUTE, Ye decides to post this:
The price craters from $12m to under $1m almost instantly. Weak hands, out. I mean, obviously. Who wants to hold a fake Ye coin with the real deal on the horizon.
Weird timing. What a coincidence. Almost like Ye is trying to suppress price action. Just a coincidence though, of course.
It’s so over.
Weird. Why are people still buying the coin after Ye said everything was fake? Probably just some cracked out bozos.
Let’s move on.
Now that you have some background on the coin’s origin, we can move on to the juicy stuff: hints.
While there are quite literally hundreds of “hints” that the schizophrenic $YZY community has put together by now that they claim tie the coin to Ye, I’m only going to include the few I find credible, for ease of reading and because I value my time (it is 4:00 AM as I write this).
On February 21st, Ye tweeted this paragraph. Depending on the device(?) you’re using, it can be argued that these words line up to claim the coin as his? I always thought this one was a stretch, but there’s no telling what his intent was.
I’ll give this hint 2/5 booms, and am mainly including it because it came first.
This is the one that first piqued my interest. 3:36 PM, February 22nd – but it’s dark outside. But putting “pulling up” by “Fun” feels very much like a PumpFun reference. And Ye likes his weird semi-accurate but still understandable word play. It’s like, what he’s known for. He has a certain style and doing something like this feels VERY on the nose.
Not to mention that he’s with Olaf Carlson-Wee… which I will unpack shortly.
Also on February 22nd – and in my opinion the best and most specific hint by far. @kanyewest was following no one on X – and then he suddenly followed CZ, seemingly at random.
The contract address for $YZY is 4NBTf8PfLH4oLFnwf3knv46FY9i5oXjDxffCetXRpump.
CZ is VERY closely associated with the number 4.
So, we can loosely connect the beginning of the contract address with CZ/BNB: 4NB.
(CZ’s reaction made it seem like he was very much NOT expecting the follow)
Next, Ye followed an account called @tall_data – which, you guessed it, starts with a “T” – the next letter of the contract. While this one isn’t as “cryptic” as the CZ follow, my suspicion is that Ye or a team member saw it in the comments on one of his tweets (Tall is a reply guy) and decided to quickly follow them so there was more of a hint to grasp following the CZ follow.
The reason I give this hint so much weight is simple: There is no other likely reason Ye followed these two accounts. They felt very random, and were both very specific. Ye almost never follows people on Twitter. It’s just all too weird – especially with the chart timing.
There have been plenty more breadcrumbs since these, but all are about as loose or worse, imo. Worth looking into on your own time if you’re curious.
I really don’t feel like finding a ton of screenshots for this section and it’s more logic-based than anything, so I’ll stick with text.
The price action on $YZY doesn’t make sense if it’s a larp scam, and I’ll explain why.
Pull up the token on Dexscreener and browse the top trader tab. You’ll notice that zero of them look like insiders – in fact, most of them bought late and look sort of lucky. I wouldn’t expect this on a scam token rife with early insiders.
Seeing as though the top traders are outsiders, that means the market makers keeping this chart looking weird are losing money right now. Go take a look at transactions over $5,000 in value, for example. They’re a lot of the same wallets doing buys and sells all day long to keep the chart looking a certain (weird) way. A lot of them are actually in the red. It’s something I wouldn’t expect unless a group was accumulating the token.
Again, I’m not a chart expert. Go check for yourself if you are.
There are only 3 things this token can be. The most lucky and well-planned scam of all time, a mass delusion out of control, or… real.
And after seeing the market making, top traders, and launch details all in conjunction, I just don’t think a scam pencils out or makes much sense. Why accumulate vast amounts of a fake Ye coin that is guaranteed to go to zero when the real one launches? It’s expensive and almost fully nonsensical.
So that leaves me with the following conclusion: $YZY is either a mass community delusion or real.
Ye has probably been offered tens of millions of dollars to do coin launches similar to Trump and Milei – so why go this weird route of launching a PumpFun and dropping random little breadcrumbs?
I think there’s both a financial motivation and intrinsic motivation behind this move, if $YZY is real.
From the intrinsic angle, Ye tweeted that “coins prey on the fans with hype” a few days before JewMoney’s PumpFun launch.
Ye’s the guy that forfeited billions to take off his chains. It’s been the central theme of his public messaging and music for years now. So why would he make a deal with the crypto vultures for what to him is pocket change? I don’t think he would do it with a predatory launch, especially after the shitshow that was $LIBRA.
Ok, so let’s assume Ye went and launched a PumpFun with a small crypto-native team. How would they keep the lights on and maintain control over the supply? With big coins you need to do things like control float and keep deep-pocketed bad actors from getting too much with intent to scalp.
Remember how I emphasized all of the weird price nukes? These may have been intentional shakeouts, with the purpose of moving supply from non-believers and casuals to both team wallets and $YZY cult members. With a PumpFun launch followed by weeks of shakeouts and weird price action, it is feasible that a well-orchestrated and funded team could accumulate the vast major of a coin on the open market while remaining under the radar.
By keeping ties hidden and hints vague, you would serve the dual purpose of dissuading any singular outside party from accumulating to much supply. Not many are willing to throw 6 figures at a speculative memecoin that most people think is completely fake. It’s a great setup, for sure.
Posted by the founder of PumpFun a day after $YZY launched
If $YZY turns out to be real, it will be remembered as one of the most masterful token launches since bitcoin. They effectively seeded a cult community with diamond hands, shook out bad actors, and stealthily maintained supply control. It is the perfect launch if real.
So who in crypto has the foresight accomplish something this complex?
Our friend Olaf.
Olaf runs Polychain Capital. They manage over $6 billion worth of assets, and are regarded as one of the best VCs in the space.
Olaf is a smart guy. He’s also hundred-millionaire (at least) – so he would have no reason to leak the token or risk dirtying these plans. He was Coinbase’s first employee, earning his position in part by solving a complex mental math problem and wowing Brian Armstrong with his aptitude.
Polychain/Olaf has the resources, know-how, and expertise to carry out an operation like this. And I’d reckon have the discretion to not let the plans leak.
Oh, and one more thing. Olaf went to Vassar College where he graduated with a Bachelor’s certificate in Sociology. Pretty good background to have if you want to form an internet cult.
I think Olaf’s our guy. And I think Brian Armstrong connected him with Ye.
A text message Ye posted on February 7th
Remember the photo of Olaf Ye posted to twitter? That photo was posted at 3:36 PM, yet it was dark outside. This proves that they had been in contact for at least a day or more prior to the post. Why post the photo late? Weird.
I’ve got a lot of twitter followers, so sometimes I get sent “early info” on coin launches. Yeah yeah, ethics and all blah blah blah. But what I found interesting is that I got sent “early Yeezy coin alpha” about a dozen times from a dozen different people – legit people – and all of it turned out to be wrong.
Chalk it up to Ye’s indecisiveness, but with everything else I know now that really seems like a disinformation campaign to me. Perhaps the $YZY team led some b-tier “crypto operators” on because they knew they’d leak stuff.
And finally, we arrive at the CoinDesk article. It’s a tell-all about Ye’s upcoming coin launch – and it was conveniently sent to CoinDesk editor Sam Kessler by someone with a Yeezy.com email address. Whoever sent it included an embargo, which Kessler of course chose to ignore.
I don’t know anything about Sam, but I do know that Kessler is a Jewish surname. Why would Ye, the biggest antisemite on the internet, have his coin plans sent exclusively to Kessler and think he’d honor a press embargo?
This article should give you a baseline understanding of the circumstances behind $YZY. There’s a ton I have left out – both good and bad for the theory.
My personal opinion? The Olaf/Polychain approach is extremely feasible, and if real will be remembered as the greatest memecoin launch of all time. It hits all the marks for a great and effective launch, achieves near perfect distribution and leaves Ye in control of $YZY without screwing over his fans.
While none of the “breadcrumbs” have been more than loose, they simply couldn’t be definitive or else the price would already be at $500m. Get it?
It’s very Ye.
On the other hand, this might all be a chain of funny coincidences that look like a masterful launch but is nothing but rose-tinted speculation. Only time will tell.
Whether it’s real or not, at $12m the r/r is there for me. Gamble responsibly.
P.S. Hi ye/Olaf. Gotcha.
P.P.S. Please excuse the naughty words in this article. We are not anti-semitic. We just like making money.
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