The post Kanye West Teases YZY Card, Crypto Payments Amid Controversial Token Launch appeared on BitcoinEthereumNews.com. Kanye West’s Yeezy Money token launched on Solana with promises of a payments revolution, only to face insider concentration concerns. U.S. hip-hop provocateur Kanye West, known as Ye, has launched a Solana-based token called Yeezy Money (YZY), teasing a sprawling crypto payments ecosystem that puts his brand — and his fans’ wallets — squarely in the spotlight. In a Thursday announcement on X, West wrote: “Yeezy Money is here… A new economy, built on chain,” sharing the token’s contract address and a link to a website for buying, selling, and sending YZY. An alleged design of the YZY Card The YZY ecosystem, according to West’s website, includes “Ye Pay,” a payment processor allowing merchants to accept credit and crypto payments, and the “YZY Card,” a non-custodial debit card for spending YZY tokens and stablecoins like USDC and USDT at merchants worldwide. Checkout Options As of now, YZY appears as a checkout option on West’s official merchandise site, though it is not yet functional. Only 15% of Traders Profit The token’s debut was turbulent. YZY briefly surged to a $3 billion market capitalization within 40 minutes of its launch before retreating to around $1.05 billion, according to Dexscreener. Analytics firm Nansen shared data with The Defiant showing that over 60,000 wallets traded YZY within the first day. Of these, only 9,413 wallets realized profits of more than $10. There are also clear signs of fading memecoin hype as YZY logged just $724 million in first-day trading, well below the $29.5 billion generated during the debut of U.S. President Donald Trump’s memecoin. YZY Chart Concerns about insider concentration quickly followed. Coinbase director Conor Grogan noted in an X post that a large portion of the token supply was initially held by insiders, with one multi-signature wallet controlling as much as 87% at… The post Kanye West Teases YZY Card, Crypto Payments Amid Controversial Token Launch appeared on BitcoinEthereumNews.com. Kanye West’s Yeezy Money token launched on Solana with promises of a payments revolution, only to face insider concentration concerns. U.S. hip-hop provocateur Kanye West, known as Ye, has launched a Solana-based token called Yeezy Money (YZY), teasing a sprawling crypto payments ecosystem that puts his brand — and his fans’ wallets — squarely in the spotlight. In a Thursday announcement on X, West wrote: “Yeezy Money is here… A new economy, built on chain,” sharing the token’s contract address and a link to a website for buying, selling, and sending YZY. An alleged design of the YZY Card The YZY ecosystem, according to West’s website, includes “Ye Pay,” a payment processor allowing merchants to accept credit and crypto payments, and the “YZY Card,” a non-custodial debit card for spending YZY tokens and stablecoins like USDC and USDT at merchants worldwide. Checkout Options As of now, YZY appears as a checkout option on West’s official merchandise site, though it is not yet functional. Only 15% of Traders Profit The token’s debut was turbulent. YZY briefly surged to a $3 billion market capitalization within 40 minutes of its launch before retreating to around $1.05 billion, according to Dexscreener. Analytics firm Nansen shared data with The Defiant showing that over 60,000 wallets traded YZY within the first day. Of these, only 9,413 wallets realized profits of more than $10. There are also clear signs of fading memecoin hype as YZY logged just $724 million in first-day trading, well below the $29.5 billion generated during the debut of U.S. President Donald Trump’s memecoin. YZY Chart Concerns about insider concentration quickly followed. Coinbase director Conor Grogan noted in an X post that a large portion of the token supply was initially held by insiders, with one multi-signature wallet controlling as much as 87% at…

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more