LOS ANGELES, USA — Rapper Kanye West, now known as Ye, has revealed that he rejected a $2 million offer to promote what he described as a ‘crypto scam’.
Taking to X (formerly Twitter), West claimed he was approached with a deal to endorse a fake cryptocurrency under his name, with the plan being for him to later deny involvement by claiming his account was hacked.
I was proposed 2 million dollars to scam my community Those left of it I said no and stopped working with their person who proposed it pic.twitter.com/WKHdP9FkOq
— ye (@kanyewest) February 7, 2025
West’s Stance on Cryptocurrency
West has been outspoken about his views on cryptocurrency, previously questioning its long-term value in a cryptic X post:
“When people make all that money with a coin, is that cash or concept?”
Although he has not explicitly stated whether he plans to launch his own cryptocurrency, fans have speculated about a potential “Ye Coin”.
Notably, in 2014, West took legal action against a memecoin called “Coinye”, which was launched by seven anonymous developers using his likeness without permission.
Breakdown of the Scam Offer
West disclosed that the deal proposed on February 7, 2025 involved:
- A $750,000 upfront payment
- A $1.25 million completion payment, to be received 16 hours after posting the promotion on X.
- After the post, West was supposed to falsely claim that his account had been hacked in order to cover up the scam.
“The company asking you to do this will be scamming the public out of tens of millions of dollars,” the message in West’s post read.
Seeking a ‘Trusted Crypto Connect’
After exposing the scam, West posted a screenshot of a conversation in which he asked for a trusted crypto advisor.
The unnamed person in the chat suggested Brian Armstrong, the CEO of Coinbase, and offered to connect them.
Concerning crypto pic.twitter.com/ytfDfjiqXS
— ye (@kanyewest) February 7, 2025
Industry Reactions
West’s refusal to take part in the scam has sparked mixed reactions from the cryptocurrency community.
Crypto investor Armenio suggested that instead of launching a coin, West should sell his merchandise in cryptocurrency, embracing the concept of peer-to-peer (P2P) money.
Crypto Vic speculated that West’s announcement was simply a publicity stunt to generate hype for his upcoming album “Bully”, which is set to be released on June 15.
What’s Next for Kanye and Crypto?
While West has declined involvement in this particular crypto deal, his increased engagement in the space has led to speculation that he may explore launching his own digital currency or NFT venture in the future.
For now, he remains one of the most controversial figures navigating the intersection of entertainment, business, and technology.
