Cardano founder Charles Hoskinson has categorically dismissed rumors linking hip-hop artist Kanye West, now generally known as Ye, to a proposed token launch on the Cardano blockchain. In a quick video posted on X (previously Twitter), Hoskinson poured chilly water on hypothesis that Ye may roll out a cryptocurrency venture underneath Cardano’s umbrella.
No Kanye West Challenge on Cardano
“Hey guys, I wished to make a fast video to say Kanye West shouldn’t be going to launch one thing on Cardano,” Hoskinson stated. “I do know some individuals are speaking about it, however it doesn’t even appear to be he’s truly doing something of worth. Seems to be 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 critical venture. We’re not a launching place for a lot 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 vogue model. Based on these sources, 70% of the token’s allocation can be reserved for Ye, with 10% going towards liquidity provisioning and 20% put aside for traders.
Rumors steered that YZY would function a way for Ye to bypass mainstream cost and e-commerce platforms equivalent to Shopify, which reduce ties with him in response to latest antisemitic statements and different hate-filled rhetoric. Ye’s strikes within the crypto area 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 stay 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 generally known as @barkmeta, presumably to facilitate a large-scale rip-off. Crypto influencer, Loki The Chicken (@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 the complete area. Share for consciousness and save Web3.”
There was additionally a picture circulating, exhibiting 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 individual.”
Hoskinson’s dismissal of any official connection to Ye underscores Cardano’s broader dedication to sustaining its place as a “critical venture.” Whereas the open-source nature of blockchain expertise implies that permission shouldn’t be strictly required to construct on Cardano, Hoskinson clarified: “He desires cash and assist to launch it. Nobody critical 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
