Cardano founder Charles Hoskinson has categorically dismissed rumors linking hip-hop artist Kanye West, now often called Ye, to a proposed token launch on the Cardano blockchain. In a short video posted on X (previously Twitter), Hoskinson poured chilly water on hypothesis that Ye may roll out a cryptocurrency challenge beneath Cardano’s umbrella.
No Kanye West Mission on Cardano
“Hey guys, I needed to make a fast video to say Kanye West is just not going to launch one thing on Cardano,” Hoskinson stated. “I do know some persons are speaking about it, however it doesn’t even appear to be he’s really doing something of worth. Appears to be like like he offered his Twitter account for 17 million {dollars} to the Barkmeta guys for them to do a rip-off. Even when he didn’t, I don’t assume we wish that. It’s an excessive amount of drama.”
He added: “Cardano is a severe challenge. We’re not a launching place for most of these issues. So thanks all for the drama for the weekend, however I don’t assume there’s any Kanye in any respect.”
Notably, the controversy started on Friday, when three sources near Ye’s circle claimed that the artist was planning to launch a token named YZY—a nod to his Yeezy style model. In response to these sources, 70% of the token’s allocation could be reserved for Ye, with 10% going towards liquidity provisioning and 20% put aside for traders.
Rumors urged that YZY would function a method for Ye to bypass mainstream fee and e-commerce platforms reminiscent of Shopify, which lower ties with him in response to current antisemitic statements and different hate-filled rhetoric. Ye’s strikes within the crypto house are seen by some as a possible lifeline after he was dropped by key companions, together with Adidas and Balenciaga, for praising Adolf Hitler and making repeated antisemitic remarks in reside interviews and on social media.
In parallel with discuss of Ye’s crypto ambitions, whispers circulated that the artist offered his private X account (@kanyewest) for $17 million to a memecoin group often called @barkmeta, presumably to facilitate a large-scale rip-off. Crypto influencer, Loki The Chook (@lokithebird), fueled the hypothesis by writing: “Kanye West offered his account to the BarkMeta Doginals crew for $17M—they’re gearing as much as rip-off your complete house. Share for consciousness and save Web3.”
There was additionally a picture circulating, displaying two telephones allegedly logged into @barkmeta and @kanyewest concurrently. Nevertheless, Ye swiftly denied any involvement with these people or any sale of his account, stating, “That is pretend, I don’t know this particular person.”
Hoskinson’s dismissal of any official connection to Ye underscores Cardano’s broader dedication to sustaining its place as a “severe challenge.” Whereas the open-source nature of blockchain know-how implies that permission is just not strictly required to construct on Cardano, Hoskinson clarified: “He desires cash and assist to launch it. Nobody severe in Cardano goes to do it,”successfully closing the door on any partnership.
At press time, ADA traded at $0.74.
Featured picture from YouTube, chart from TradingView.com