Philippine senator eyes proposal to place government budget on blockchain: reports

Author: Vernacular Blockchain Remember when people asked, “Can I buy a cup of coffee with Bitcoin?” Today, crypto asset payments are no longer a niche scenario, but are seen by

The post Kanye West’s YZY Coin Triggers $74M Losses for 51K Traders appeared on BitcoinEthereumNews.com. Key Notes High-profile traders, including Andrew Tate, faced major losses, while insider-linked wallets reportedly made millions with YZY meme coin. Blockchain analysis flagged recurring insider activity, with figures tied to previous scandals profiting from YZY’s launch. Celebrity-endorsed tokens launched over the past year have frequently experienced pump-and-dump schemes. Within a week of Kanye West launching his YZY meme coin on Solana SOL $213.7 24h volatility: 4.5% Market cap: $115.58 B Vol. 24h: $13.96 B blockchain, over 51,000 traders have lost a total of $74 million. This marks another pump-and-dump involving celebrity tokens, trapping retail investors. Kanye West’s YZY Meme Coin Traps Several Traders The Kanye West-associated YZY token debuted on the Solana blockchain on August 21, surging 1,400% within its first hour of trading before plunging over 80% in value. Blockchain analytics firm Bubblemaps reported that out of 70,200 traders who bought the token, more than 51,800 incurred losses, including three traders who each lost over $1 million. Similarly, more than 100 traders lost a total of over $100K during this period. Interestingly, there were 11 wallets that made more than $1 million in this process. The updated $YZY numbers are worse than we thought 70,000+ total traders > 51,862 lost $1–$1k> 5,269 lost $1k–$10k> 1,025 lost $10k–$100k> 108 lost $100k–$1M> 3 lost $1M+ Meanwhile, 11 wallets made $1M+ pic.twitter.com/I9ZaBJepAM — Bubblemaps (@bubblemaps) August 27, 2025 The YZY meme coin has fallen more than 80% from its peak and is currently trading at $0.5515, with just 19,531 holders, according to blockchain analytics firm Nansen. Among the speculators was former kickboxing champion Andrew Tate, who took a 3x leveraged short position on YZY, resulting in a $700,000 loss on a Hyperliquid account linked to him. Could the MELANIA Meme Coin Creator Be a YZY Insider? After the YZY meme coin pump-and-dump,…

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