Crypto Industry Faces Scrutiny Over YZY, LIBRA Coin Launches

Kanye West’s YZY and Javier Milei’s LIBRA coin launches are under scrutiny over alleged market manipulation and insider favoritism, sparking controversy within the crypto community.

This event highlights concerns about transparency and fairness in the crypto industry, leading to regulatory scrutiny and significant financial losses for retail investors.

YZY and LIBRA Linked to Insider Advantage Allegations

The launches of YZY and LIBRA coins have resulted in accusations of insider advantage. Both Kanye West and Javier Milei are linked to these projects, lacking prior blockchain experience. Allegations arose from on-chain data revealing concentrated insider supply. Initial evidence suggests potential price manipulation through liquidity maneuvers, drawing parallels to previous incidents. As noted by Lookonchain, “Only $YZY was added to the liquidity pool with no $USDC. Dev may sell $YZY by adding/removing liquidity, similar to $LIBRA.” source

Insider Wallets Profited $24 Million Amid Scandal

Insider wallets reportedly gained $24 million while many retail investors faced severe losses. Immediate market reactions have included rapid price volatility and calls for regulatory action. These events have prompted intensified scrutiny under regulatory frameworks. On-chain analysts continue to expose similar patterns of crypto market manipulations.

Recurring Patterns of Manipulated Liquidity Identified

The YZY and LIBRA launches mirror previous meme coin controversies. Evidence suggests a recurring pattern of insider concentration and manipulated liquidity, causing quick retail downfall. Expert analyses predict increased regulatory oversight similar to past incidents. The focus remains on creating transparent tokenomics to prevent market manipulation in future coin launches. As emphasized by Kanye West (Ye), Founder of YZY Money, “New Economy, Built On Chain.” source