Another weekend, another crypto-scam with regard to celebrities, who leaves a black page in the industry

The crypto community continues to get blows, especially Solana after well-known celebrity started to tweet about meme coins. Last weekend mysterious tweets appeared from Kanye West's X (formerly Twitter) account.

Another weekend, another crypto scam involving celebrities that leaves a black mark on the industry.

The crypto community keeps getting hit with new scams, especially Solana after a well-known celebrity started tweeting about meme coins. Last weekend mysterious tweets appeared from Kanye West’s X (formerly Twitter) account. West’s account has a checkered past on the platform and was recently inactive for a long time.

Suddenly unhinged messages were being sent from West’s profile, leaving some concerned about his behavior. However, West’s account suddenly started tweeting about an upcoming meme-mint called the Yeezy Coin. This raised even more red flags until crypto-twitter users started reporting that Kanye had sold his Twitter account to Barkmeta, a crypto-influencer who has a history of rug pulls.

Kanye is said to have sold his Twitter account for $17 million to Barkmeta and no longer has control over it. Barkmeta even shared images of two phones with the Barkmeta and Kanye Twitter accounts open, titled “Cabal Meeting”.

After the announcement of Kanye’s Meme-Mint, Barkmeta proceeded to host a Twitter Space where they hyped up its token and its launch, calling it the biggest meme-mint in history.

Normally the announcement of Kanye’s Meme-Mint would send shock waves through the crypto industry, but the sentiment has definitely changed. After the launch and subsequent rug pull of the Libra token, which was supported and promoted by Argentinian President Javier Milei, traders seem to be done with the constant scams on the Solana network.

The sentiment on Crypto Twitter seems to be strongly against the launch of the Yeezy Coin and many are saying they will not participate in the project. It marks the first time in recent history that there is a coordinated attempt to not buy a meme-mint.

Is Kanye’s account compromised and being operated by Barkmeta? If so, Barkmeta certainly didn’t do a good job utilizing the account that has over 30 million followers. Now that the launch of the Yeezy Coin (>$yzy) is already underway, it will be interesting to see how much is raised for the coin, which users can apparently use $yzy to buy things directly from Kanye’s website.

The negative sentiment in the crypto community spilled over this week into the Price of Solana. Sol continued its decline and fell below $160 on Sunday evening. The Solana price has nearly halved since reaching new all-time highs in January and most meme coins have lost the majority of their value.

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