Rapper and entrepreneur Kanye West has found himself at the center of cryptocurrency discussions after revealing that he was offered $2 million to promote a fraudulent token—an offer he firmly rejected.
West’s revelation came through a tweet on X late Friday, where he shared screenshots of messages from an unnamed entity attempting to lure him into the scheme.
According to West, the proposal included an upfront payment of $750,000, with an additional $1.25 million promised 16 hours after his initial post about the token. The condition was that he had to leave the tweet up for at least eight hours before later claiming, “my account was hacked, the post was not me.” The rapper refused the offer and severed ties with the individual behind it.
In a screenshot shared by West, the individual behind the offer openly admitted that the scheme would cost people tens of millions of dollars. His rejection of the deal has earned him praise from the crypto community, as many celebrities and influencers have previously been accused of launching scam tokens that led to financial losses for their followers.
Crypto Community Urges Kanye to Launch a Token
West’s involvement in the crypto space didn’t end with his rejection of the scam offer. Shortly after, he posted another message asking for a “crypto connect” that wouldn’t require a middleman. In response, the person he was chatting with recommended Brian Armstrong, the CEO and co-founder of Coinbase. This has fueled speculation that West may be considering a legitimate venture in the crypto space, possibly launching a token on Base, the blockchain linked to Coinbase.
His series of posts caught the attention of cryptocurrency enthusiasts and industry figures, with many urging him to create his own memecoin. Among them was Arthur Hayes, co-founder of BitMEX, and Mert Mumtaz, CEO of Solana development firm Helius. Mumtaz suggested that West launch a controversial “Hitler” token on Ethereum, a comment that drew further attention as the rapper has been making troubling remarks about Adolf Hitler on social media.
Growing Celebrity Influence in Crypto
West’s involvement comes at a time when celebrities and influencers have increasingly entered the crypto space. Figures like Iggy Azalea, Hailey Welch (the “Hawk Tuah” girl), and even former U.S. President Donald Trump have leveraged their fame to launch memecoins. However, many of these projects have faced scrutiny, with some being accused of “rug pulls” that left investors with losses.
For example, Welch’s $hawktuah token and Andrew Tate’s $Father token both reportedly drained liquidity from the market and caused financial losses for their investors. Welch has since disappeared from public view, while Tate remains entangled in legal battles over human trafficking, rape, and tax evasion in Romania and the U.K.
Will Kanye West Enter the Crypto Market?
With speculation mounting, some industry insiders believe West may be preparing to enter the cryptocurrency space in an official capacity. A well-known Solana influencer, Nick, claimed that West could be working with Meteora, a team involved in the launch of previous tokens, including the relatively successful $Trump coin. Additionally, Barstool Sports founder Dave Portnoy is rumored to be collaborating with the same group on an upcoming token launch.
Meanwhile, prediction market platform Polymarket has seen a spike in bets on whether West will launch a cryptocurrency. The odds jumped to 46% following his tweets, with roughly $52,000 worth of wagers placed on the possibility.
West would not be the first high-profile figure to enter crypto, and his interest in decentralized finance has fueled debates on whether he will create a legitimate project or stay out of the industry entirely. As the rapper continues to stir conversations, only time will tell if he makes his mark in the crypto world.
