Altcoin News Official TheBitTimes.com

Kanye West’s newly-launched YZY token, which briefly soared to a $3 billion market cap earlier today, is at least 94% owned by insiders. That’s according to Coinbase Director Conor Grogan, who also noted that 87% of the supply was owned by a single multisig wallet that later dispersed tokens to other wallets. Despite its impressive start, the token dropped back 89% to $320 million in just 30 minutes. YZY was created three days prior to its public launch at 2:53 am UTC+1 and started pumping at 2:54 am UTC+1. According to crypto analyst Lookonchain, “ Multiple insider wallets prepared funds in advance and immediately bought $YZY .”  https://t.co/1M0I3w1dq4 pic.twitter.com/ub91RSGF5C — YZY MONEY (@YZY_MNY) August 21, 2025 Blink twice if this is a legit launch. Read more: Kanye West said ‘coin’ on X and memecoin degens are frothing Crypto sleuth Dethective claims someone sniped the YZY launch for $1.8 million before sending the funds to a treasury walle...

Three Arrows Capital (3AC) co-founders Su Zhu and Kyle Davies have decided to launch their own memecoin, Three Arrowz Capitel. The duo previously led a hedge fund that blew up, had its dwindling assets frozen by court order, and still owe billions of dollars to creditors. Authorities in Singapore arrested Zhu last year for failing to comply with court instructions. Branded under a purposeful misspelling of their failed hedge fund and retweeted from their official social media accounts, the duo now are now promoting a trading-focused Telegram channel to go with the newly-minted ERC-20 token. Unfortunately for their mostly retail audience, up to 84% of its supply was held by insiders as of yesterday afternoon . 71.8% is now in a Team & Insider wallet. The token also imposes a punishing 1% tax on every buy and sell. The duo claims they will recirculate this tax to help their community swap the token for other ‘bags.’ Finally, insiders control another eight wallets with generou...