Kanye West Claims He Rejected $2M Crypto Scam, Teases Talks with Coinbase CEO

West Hints at Crypto Interest Amid Controversial Rant

Kanye West appears to be inching toward involvement in the crypto industry after revealing he was offered $2 million to launch a token. The rapper, known for his erratic social media presence, posted a cryptic message on Friday, indicating he wants to speak with Coinbase CEO Brian Armstrong about an undisclosed crypto-related matter. His sudden engagement with digital assets follows a series of online outbursts, including inflammatory remarks about Adolf Hitler, which overshadowed his emerging interest in the space.

“WHEN PEOPLE MAKE ALL THAT MONEY WITH A COIN IS THAT CASH OR CONCEPT,” West posted, fueling speculation about his curiosity regarding the mechanics of crypto wealth. The statement was nestled between other controversial remarks, yet crypto advocates seized the moment, urging him to release a token. Among them was FaZe Banks, who argued that West was one of a handful of people on Earth capable of launching a successful coin.

Pump.fun, a memecoin launch platform, joined the conversation by goading West to create a token. Hours later, the rapper claimed he had turned down a $2 million offer to “scam” his audience, sharing a screenshot of a direct message from an undisclosed contact. “I said no and stopped working with their person who proposed it,” he wrote, suggesting he had severed ties with the unidentified promoter.

Prediction market Polymarket quickly responded, noting that the probability of West launching a token had surged to 46%. Market odds tracking the likelihood of a Kanye West memecoin fluctuated throughout the day but largely stayed below 30%, with around $52,000 wagered on the outcome. While no formal plans for a West-backed token exist, speculation remains high as the rapper continues his erratic but increasingly crypto-focused commentary.

West would be far from the first celebrity to dabble in digital assets. Earlier today, Barstool Sports founder David Portnoy hyped what he labeled a “sh*tcoin” to his massive social media following, marking his first major crypto endorsement since backing SafeMoon in 2021. The Securities and Exchange Commission has cracked down on celebrity crypto endorsements under the Biden administration, targeting public figures for failing to disclose payments. 

West’s ex-wife Kim Kardashian was among those penalized, paying a $1.26 million fine for promoting EthereumMax without proper disclosure. Whether West follows the well-worn path of celebrity-endorsed tokens or takes a more measured approach remains to be seen, but his latest cryptic statements have already sent waves through the industry.

This article has been refined and enhanced by ChatGPT.