Kanye West, also known as Ye, is once again making headlines—and this time it’s not for his music or fashion empire. The outspoken rapper and entrepreneur revealed that he rejected a jaw-dropping $2 million offer to promote a fraudulent cryptocurrency scheme. Not only did Ye dodge this shady deal, but he also exposed the scam to his 32.6 million followers, sending a clear message that even he won’t play dirty for cash. Here’s the lowdown on what happened.
A $2 Million Scam Proposal: Ye Says “No Thanks”
On February 7, Kanye took to X (formerly Twitter) to share the shocking details of a $2 million offer he received. The scam was pretty audacious: Ye was asked to post a fake crypto promotion to his massive following, keep it live for just 8 hours, and then claim his account had been hacked. By the time the hack excuse kicked in, however, the damage would have been done, and many followers could have been tricked into losing significant amounts of money.
In his post, Ye said, “I was proposed 2 million dollars to scam my community. Those left of it. I said no and stopped working with their person who proposed it.” Not only did he reject the offer, but he also made it clear he wasn’t about to risk his reputation for a quick payday.
The Scam Plan: All About the Quick Cash
According to Ye, the scam was set to unfold in two stages. The first part of the deal involved a $750,000 upfront payment for sharing the crypto promotion. He would have kept the post live for 8 hours and then pulled the “hacked” card to deny responsibility. The second part of the deal came with a whopping $1.25 million payout 16 hours later. The scam would’ve swindled the public out of millions, but Ye wasn’t buying into it.
In a screenshot he shared, Ye revealed that the company behind the scam was trying to convince him that it would make him a lot of money—while, of course, taking advantage of his followers. The scammer even made it clear that this kind of shady deal would hurt a lot of people.
Ye’s Response: Seeking Real Connections
An hour after exposing the offer, Kanye posted a private conversation with someone on X, asking for a “crypto connect” that didn’t involve a middleman. The person suggested Coinbase CEO Brian Armstrong and even offered to get him Ye’s phone number. Looks like Ye is looking to find legitimate ways to interact with the crypto world—not through scams but through real connections.
The Meme Coin Drama: Celebrities and Crypto Chaos
This rejection comes at a time when the world of celebrity-backed crypto tokens is a bit of a mess. Recently, Haliey Welch, also known as the “Hawk Tuah” girl, spoke out about the chaos surrounding her failed memecoin, Hawk Tuah. The token, launched on December 4, 2024, skyrocketed to a market cap of $490 million in hours. But the bubble burst fast—just one day later, its market cap plummeted by over 90%, leaving many new crypto investors in the dust.
Meanwhile, former U.S. President Donald Trump also got in on the meme coin madness. He launched the “Official Trump” memecoin ahead of his inauguration, but after initial hype, it took a 38% nosedive when his wife, Melania Trump, dropped her own token. Looks like the crypto world can’t catch a break with these celebrity-led projects
The Bigger Picture: Celebrities and Crypto Caution
Crypto commentator Armeanio suggests that Kanye should look into using crypto to sell his merchandise, rather than launching a memecoin, which often ends up being more trouble than it’s worth. “Celebrity tokens generally bring a reckoning on retail,” he says, noting how many of these projects end in failure.
Crypto Vic, another commentator, believes Kanye is just stirring the pot for his own benefit—likely building buzz ahead of his next album drop. “He is a master marketer,” Vic adds, pointing out that Ye’s not about to jump into a memecoin, but might be creating drama to hype up his next big project.
Celebrity Token Troubles: The Final Take
From Kanye’s rejected offer to Haliey Welch’s failed token to Trump’s controversial memecoins, one thing is clear: celebrities and crypto often don’t mix well. While some stars are trying to cash in on the hype, many of these token launches end in disaster—often leaving fans and investors with nothing but regret.
Kanye West’s decision to turn down a $2 million crypto scam may just be a sign that even the wild world of crypto isn’t enough to sway him. For now, it looks like he’s keeping his focus on his own creative empire, while others deal with the fallout from their ill-fated crypto ventures.
