The Story of Coinye, The 2014 Kanye Crypto Meme Coin

Ye has despatched a sequence of tweets this week about blockchain and his plans to launch his own token. His precise plans stay obscure, he has prompt the token could possibly be known as YZY, an ERC-20 token on the Ethereum blockchain, with Ye holding 70% of the tokens, elevating considerations about centralization. 

Different tweets prompt he would possibly go the controversial “Swasticoin”, an concept that hopefully he’ll abandon. Ye has had non-public correspondence with CZ, founding father of Binance, and Justin Solar, founding father of Tron, suggesting the plans could also be altering rapidly. In his most up-to-date tweet right now, Ye denied understanding Barkmeta, a twitter account that many suspected was working Ye’s coin undertaking. This now seem to not be the case.

This isn’t actual, I don’t know this individual, mentioned Ye, Supply: X 

Coinye: The 2014 Meme Coin

Eleven lengthy years earlier than the present meme coin shenanigans, there was a coin known as Coinye. Launched in early 2014, Coinye was a Litecoin fork impressed by a South Park episode (“Fishsticks”) parodying Kanye West as a “homosexual fish.” 

It confronted stop and desist letters from West’s attorneys, however the unique builders disappeared, and the coin continued, showcasing decentralized resilience. Coinye makes use of the Scrypt algorithm, has a max provide of 133,333,333,333 cash, and stays operational with group assist, together with mining swimming pools and wallets.

This Fishsticks episode, aired on April 8, 2009, featured a viral joke about fish sticks that turned related to Kanye West, portraying him as not understanding the humor however keen to say credit score. 

The coin, named Coinye, was a playful tackle West’s title, reflecting the meme tradition prevalent in early cryptocurrency circles.

Coinye’s technical basis mirrored Litecoin, using the Scrypt algorithm for mining, with a block time of roughly 90 seconds and a most provide of 133,333,333,333 cash. Its creation was pushed by nameless builders, aiming to capitalize on the parody’s reputation. 

Nonetheless, authorized troubles quickly arose. Kanye West’s authorized staff issued stop and desist letters, demanding the cessation of utilizing his title and likeness, as documented in mirrored authorized notices obtainable at Coinye Official Website. 

The fascinating and extremely entertaining authorized letter from Kanye’s attorneys in 2014

The unique builders disappeared, however the decentralized nature of the community ensured Coinye’s survival, demonstrating the resilience of such programs in opposition to centralized authorized pressures.

The coin’s group tailored, establishing assets like mining swimming pools (e.g., GayFishPool at GayFishPool) and taps, with wallets obtainable for Home windows, Linux, and Mac, as detailed on Coinye Official Website. 

Coinye’s persistence is evidenced by its continued operation, with community stats accessible at Coinye Network Stats, and block explorers like Coinye Unofficial. This longevity underscores its standing as one of many first parody alt-coins, thriving regardless of preliminary authorized threats.

Coinye, the Kanye Memecoin from 2014 that everybody forgot, Supply: Coinye

Technical Specs of Coinye

Ye’s Meme Coin Enterprise: YZY and the Blockchain 

Turning to the current, Ye’s foray into cryptocurrency marks a major shift. Latest studies from February 2025, suggsted Ye plans to launch a meme coin named YZY, leveraging the Ethereum blockchain as an ERC-20 token. Nonetheless subsequent X posts and interactions, together with with CZ, Binance’s co-founder, recommend a change of coronary heart. Simply as Ye turned infamous for fixed delays to the discharge of his albums, the identical cycle now seems to be enjoying out with the discharge of his coin. Ye appears to thrive within the face of chaos, altering plans and launch dates on a whim. This can be a symptom of bi-polar dysfunction, a situation he struggles with.

Polymarket customers recommend a 63% probability Kanye will launch a coin in February, Supply: Polymarket

The Irony and Evolution: From Parody to Participation

The juxtaposition of Coinye and YZY presents a full circle second. Coinye, born from a parody with out Ye’s involvement, confronted authorized opposition however continued by way of decentralization. 

In distinction, YZY, or no matter it finally ends up being, represents Ye’s try to regulate and revenue from the meme coin house, with important centralized possession. This shift highlights the evolution of meme cash from proof-of-work programs like Coinye to token-based fashions on blockchains like Ethereum, reflecting broader traits in cryptocurrency adoption.

Latest studies recommend Coinye was revived in 2024 as an Ethereum ERC-20 token on the Base community, as famous in The Big Whale Article, indicating adaptation to trendy blockchain applied sciences. This revival, nevertheless, doesn’t detract from the unique Coinye’s operational continuity as a proof-of-work coin, showcasing the twin existence of legacy and new kinds.

As meme cash proceed to mix humor, satire, and monetary hypothesis, the journey from Coinye to YZY exemplifies the dynamic nature of this ecosystem, the place previous parodies can encourage future ventures, blurring the traces between satire and actuality. 

Who’s Backing This? And Will It Even Work?

There’s no affirmation but on whether or not Ye is building this alone or if he has heavyweight builders in his nook. However don’t anticipate any big-name VCs—Ye has made it clear he’s in opposition to the normal tech funding mannequin. He’s additionally been noticed hanging with some main figures within the Bitcoin and Ethereum house, so the tech facet could be extra severe than folks assume.

However let’s be actual—celebrity crypto projects have a horrible observe file. From Floyd Mayweather’s shady ICO to Logan Paul’s disastrous NFT drop, most flip into pump-and-dump schemes. The distinction right here? Ye isn’t simply one other influencer attempting to money in. He’s a cultural pressure with a fanbase that truly follows him into new industries (see: vogue, sneakers, politics, and gospel music).

If it succeeds, it gained’t be due to its tech—it’ll be as a result of Ye’s imaginative and prescient turns it right into a cultural motion.

Love him or hate him, Kanye doesn’t do small concepts. If YeCoin and YeChain really launch, it could possibly be probably the most entertaining, chaotic, and probably revolutionary issues to occur in crypto.

But when historical past has taught us something, it’s that Kanye’s concepts change as quick as his album launch dates. So by the point you end studying this, he would possibly already be onto the following factor.