Andrew Tate Sits On $41K Profit From Shorting Kanye West’s YZY Meme Coin
Controversial influencer Andrew Tate is sitting on an unrealized profit of $41K from a leveraged short on YZY MONEY (YZY), a meme coin linked to rapper Kanye West, while 13 other wallets each pocketed over $1 million from the token. The meme coin went viral after appearing on West’s official X account , triggering a 1,400% surge to $3 and a market cap of $3 billion. High-profile traders, including BitMEX co-founder Arthur Hayes and leveraged trader James Wynn, also bought in, drawn by the hype surrounding the celebrity-backed token. But its surge was short-lived. Fears of a rugpull appeared justified when YZY’s price crashed hours later, leaving thousands of smaller investors with losses. CoinMarketCap data shows the token has plummeted more than 44% in the last 24 hours to trade at $0.6571. YZY price chart (Source: CoinMarketCap ) Nansen data shows 13 wallets collectively made $24.5 million dumping the token, while only a small fraction of addresses that bo...
