Kanye West, now generally known as Ye, has revealed that he turned down a $2 million provide to advertise a fraudulent cryptocurrency scheme. The rapper and entrepreneur shared the revelation in a Feb. 7 put up on X, exposing the small print of the rip-off and his refusal to take part.
In line with West, the scheme concerned him posting a fraudulent crypto promotion to his 32.6 million followers. As a part of the deal, he would later declare that his account had been hacked, permitting scammers to make hundreds of thousands earlier than victims realized the deception.
West’s put up included a screenshot detailing the provide, an upfront cost of $750,000 to publish the put up and hold it reside for eight hours, adopted by an extra $1.25 million payout after 16 hours.
“I used to be proposed 2 million {dollars} to rip-off my neighborhood. These left of it. I mentioned no and stopped working with their one who proposed it,” West wrote on X.
Shortly after exposing the rip-off, West posted one other screenshot of a personal dialog, the place he requested the title of a trusted contact within the crypto trade. One response mentioned that Coinbase Chief Govt Brian Armstrong was an in depth contact for West and supplied to get his telephone quantity.
West seems to be delving deeper into cryptocurrency on condition that he had additionally printed statements about wanting crypto with out intermediaries. He hasn’t made it clear if he has reached out to Armstrong but.
This has, after all, given rise to hypothesis about him launching his crypto challenge. Some, akin to Crypto Vic, imagine he’s constructing hype for an upcoming album. Different options, together with one from analyst Armeanio, are urging him to promote his merch in cryptocurrency as a substitute of crafting a memecoin.
West has a troubled historical past with cryptocurrency. In 2014, he filed a lawsuit to derail “Coinye,” a meme coin that appropriated his title and likeness with out authorization. Although he beforehand opposed the sector, he now appears to be interacting with the crypto world on his personal phrases.
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