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Recent reports suggest Kanye West, now known as Ye, sold his X (formerly Twitter) account to Barkmeta for $17 million as part of a looming crypto launch.
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Concerns regarding Barkmeta’s reliability have emerged as crypto analysts point to its historical involvement in multiple scams.
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Ye has publicly refuted any ties to Barkmeta, announcing plans for an official meme coin launch, while cautioning against unauthorized projects.
Kanye West reportedly sold his X account for $17 million to Barkmeta, escalating concerns about potential scams ahead of an anticipated meme coin launch.
Barkmeta’s Troubling Track Record in the Crypto Space
At the heart of the scandal is Barkmeta, a prominent figure in meme coin trading. Industry insiders have scrutinized Barkmeta’s history, revealing a pattern of fraudulent activities that casts doubt on its credibility.
Blade, an influential on-chain analyst, underscored the seriousness of these concerns.
“He has over 200k live audience and post crypto staff daily. What you don’t know is that he is also one of the biggest Twitter scammers,” Blade asserted.
In 2022, Barkmeta gained notoriety for allegedly orchestrating a POX token rug pull that left investors reeling. Following that incident, Barkmeta’s involvement in the DeFiApes NFT collection in 2023 ended in disaster as the project vanished, resulting in a catastrophic loss exceeding 90% for investors.
The Controversy Surrounding Ye’s X Account Sale
Further complicating matters, analysts like Blade have raised suspicions regarding Ye’s alleged sale of his X account.
“Kanye West sold his X account for $17 MILLION. The most anticipated meme coin launch is Barkmeta’s RUGPULL,” he pointed out during a recent Twitter Space.
During this Space, Barkmeta touted the project, labeling it “the biggest meme coin,” which raised more eyebrows as he offered promises of easy profits while avoiding detailed queries on the project’s legitimacy.
As the discourse progressed, observers noted Barkmeta’s tense demeanor and lack of persuasive responses. Additionally, Ye’s official X account began following a Barkmeta team member known as Tall, who is thought to be an alternate Barkmeta account.
In a perplexing twist, communications on social media indicated a dramatic shift in Ye’s posting style, shifting toward aggressive promotion of cryptocurrency focused content.
“The chance of YE’s sold account is above 95%. I do not recommend you to buy Kanye’s meme coin in any case,” Blade advised.
Moreover, allegations have surfaced suggesting Barkmeta may control other accounts using Ye’s name to promote potentially fraudulent tokens.
Kanye West Firmly Denies Connections to Barkmeta
Despite the mounting controversy, Barkmeta took a lighthearted approach, making bold claims regarding Ye’s alleged account sale.
“Kanye West 100% sold his account (to me) comparing his early tweets to his tweets now—completely different in almost every way. People don’t change that radically that quickly,” Barkmeta argued.
Accompanying this statement was an image purportedly showing a simultaneous access to Ye’s X account, intensifying the speculation about Barkmeta’s influence.
In reaction, Ye firmly denied any association with Barkmeta, stating, “This is not real. I don’t know this person.” He also acknowledged past betrayals but emphasized his upcoming meme coin launch as “next level.”
While the exact launch date remains uncertain, reports surfaced indicating that Ye’s official meme coin, YZY, may already be in development. Users have claimed to have received communication about the token, linking them to a website named BankofYZY, albeit with a caution against engagement due to potential risks.
As speculation surrounding Barkmeta’s role intensifies, the crypto community watches closely, anticipating the unfolding developments.
Conclusion
The intersection of celebrity influence and cryptocurrency cultivates both innovation and risk. As Kanye West’s upcoming meme coin attracts attention, the ongoing scrutiny of Barkmeta’s dubious reputation could impact the legitimacy of the project. Investors must navigate this landscape with caution, given the potential for scam associations in the crypto space.
