Kanye West's YZY meme coin has plummeted by 80% following an initial surge to a market cap of nearly $3 billion after its launch on August 21, 2025. The dramatic decline has left most traders with significant losses, with data showing that only 38% of wallets made a profit while over 60% incurred losses. One trader reportedly lost over $1 million. The situation has sparked suspicions of insider trading, as wallets linked to previous meme coin launches, such as TRUMP and LIBRA, recorded substantial profits. The YZY token's launch on the Meteora platform coincided with the unfreezing of funds in the LIBRA case, adding to the intrigue. This event underscores the risks associated with celebrity-backed coins and the need for transparency in the crypto industry.