The popular rapper and singer Kanye West will likely do something that not many have expected from him, i.e., a meme coin launch. He is known for his unpredictable behavior and controversy-filled life, but now he might join the crypto market with a new crypto, per the market rumors.
In the last few days, Kanye has shared a few tweets that show his rising interest in cryptocurrency. These include questions about crypto launches and how people make money, interactions with crypto blockchain exchanges, and more. Let’s discuss.
Kanye West Awoken With Meme Coin Curiosity
The speculation surrounding Kanye West launching a meme coin began when he posted on X, “When people make all that money with a coin, is that cash or concept?” This question shows his rising interest in the crypto and meme-themed currency frenzy that has taken over the world.
In recent months, many celebrities and industry leaders have launched their meme-themed cryptocurrencies, fueling the demand. This includes the current US President and first lady, Melania Trump, launching their TRUMP and MELANIA, Hwak Tuah Girl launching HAWK, and many others.
Kanye’s tweet gained instant attention, and multiple people interacted with the rapper. Faze Banks, a notable gaming and streaming industry figure, pitched West to launch a crypto coin. He commented that if Kanye launched a coin, his income would grow 10x instantly.
More importantly, Banks advised him to launch one, as he thinks Kanye is among the few people who could successfully launch a coin.
Banks previously onboarded celebrities like Adin Ross and even collaborated with multiple crypto influencers like FrankDeGods. Banks have asked Kanye to connect with him for a potential launch. However, simultaneously, controversy filled the room as Kanye talked about people approaching him for promoting scamming crypto.
Kanye West Approached For Crypto Scam
After Kanye West first post inquiring about making money with crypto/ meme coin, he soon revealed a $2M offer he had received to scam his community. The shared post included a screenshot of a chat in which people offered him $2 million to promote scamming crypto and asked him to reason that this post wasn’t by him but by other scammers, as his account had been hacked.
Kanye added that he had declined the offer and stopped working with the person who offered it. This has raised suspicions about the possibility of a similar offer to other celebrities and the credibility of recent scams. However, it has also helped him build credibility among his followers, who now await a genuine crypto project from him.
The Coinbase Connection and Arthur Hayes Bold Endorsement
The Kanye West meme coin rumors became more apparent when he revealed his chat with Coinbase CEO Brian Armstrong, captioning the post “Concerning Crypto.” Coinbase is among the biggest and most popular crypto exchanges, and this interaction increased the possibility of West launching a crypto token.
In this post, Kanye asked Armstrong about resending the ‘crypto connect’ so he would not have to use the middleman. Moreover, this could hint that Kanye may consider launching his potential crypto coin project on Ethereum as Coinbase’s Base Chain is built on Ethereum.
Interestingly, the founder of BitMEX has bluntly endorsed Kanye’s decision. In blunt language, Hayes has asked West to launch a meme cryptocurrency with a $YE ticker.
Solana vs. Ethereum: What Will Kanye West Choose For His Meme Coin?
Kanye West launching a meme coin is just speculation now, but Polymarket’s rising odds and industry experts and investors reaching out to him for launch are creating all this buzz.
With Kanye interacting with the CEO of Coinbase, there’s a possibility that he can opt for Ethereum infrastructure for his token.
However, in contrast, the collaboration with Faze Banks could put Solana in the spotlight. This is mainly because all the significant trending meme coins are based on Solana, which has fast transactions, low fees, and high demand.
Both blockchain networks have specific advantages. Without further developments in his situation, concluding which network Kanye will choose is challenging.
What’s Next?
There’s no official news of Kanye West launching a meme coin at press time. However, it is speculated that he will launch one based on his tweets and interactions with crypto leaders like Coinbase CEO. Experts believe in the possibility of this happening.
However, anything can happen next, as the West has an unpredictable nature. However, one thing is sure: there would be a big buzz if a crypto coin launch happened, as Kanye is a global sensation. Investors must carefully analyze the situation and not jump to conclusions.
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