Video | Weekly Market Analysis: Exposing Kanye's $YZY coin, 9 seconds to preempt, 94% insider Holdings, another celebrity Be Played for Suckers?

Original text: TheRoundTrip

Organizer: Yuliya, PANews

In an era where crypto meets AI, the truly important stories often lie hidden beyond the noise. To uncover these overlooked truths, PANONY has partnered with Web3.com Ventures to launch the English video program "The Round Trip." Hosted by John Scianna and Cassidy Huang, this episode will focus on the insider doubts behind Kanye West's $YZY token plummeting from a market capitalization of 3 billion, the latest policy signals from the Federal Reserve, and the impact of China's plan to launch a digital yuan stablecoin.

*Note: This video was released on August 23rd, and some data may differ from the current situation or dynamics.

TL;DR

1. Kanye Issues Coin & Insider Trading Suspicion

• Project Overview: Kanye West launched the "Yeezy Money Ecosystem" on Solana, which includes Memecoin($YZY), payment service(Ye Pay), and cryptocurrency debit card(YZY Card). Its market value quickly dropped from a peak of $3 billion to below $800 million.
• Insider Trading: On-chain data shows that wallets associated with the $Libra project profited approximately $23 million through front-running trades when $YZY was launched. Analysis firms Nansen and Cyvers have also confirmed wallet overlap, strongly indicating organized insider trading.
• Suspicious Timing: Five hours before the launch of $YZY, a $57 million fund related to $Libra founder Hayden Davis was unfrozen by a judge, raising widespread questions in the market.
• Example of Front-Running: Well-known trader Naseem invested $250,000 just 9 seconds before the public entry and turned it into $1.8 million within 8 minutes.
• High Concentration of Chips: The project party is accused of having a high degree of control, with 94% of the $YZY supply held by insiders, of which 87% was initially controlled by a multi-signature wallet. The token distribution is as follows:

• Investment: 30%( Unlock in 2 years )
• Team: 20%( Unlock in 2012 )
• Ecological Development: 20%(2 Year Unlock )
• Public Sale: 20%
• Liquidity: 10%

2. Macroeconomic Dynamics

• Federal Reserve: Chairman Jerome Powell delivered a speech, and the market is focused on his decisions regarding inflation rates exceeding 2%, a cooling labor market, and pressure to cut interest rates. Currently, the market predicts that the probability of an interest rate cut in September exceeds 85%.
• China: Considering the launch of an official RMB stablecoin to enhance the global influence of the RMB and challenge the status of the US dollar. The relevant plan is expected to be reviewed by the State Council this month, which could mark a significant policy shift for China since the 2021 cryptocurrency ban. (PANews Note: Since Reuters reported this news, the Chinese authorities have not yet responded to it.)