A Solana whale just torched $712K in four hours. He aped into @Solana’s newest memecoin, $YZY, with $768K. The chart ripped.
Market cap touched $134M (CMC) before crashing. By the time he rage-sold, his stack was worth just $56K.
The wipeout lit Crypto Twitter on fire.
Finnbags and the Kanye Play
Behind $YZY is @finnbags, Founder & CEO of @BagsApp. Last night he launched the token himself. CT says he pulled a Sahil move: making memes, farming his own referrals, and steering liquidity.
The setup was wild:
FINN bought 70% of supply at launch.
100% of trading fees went straight to Kanye West’s wallet.
Market went full PvP. Cap nearly hit $13M (CMC) within hours.
Then Finn tweeted at @kanyewest, telling him to “claim” the fees.
Traders weren’t laughing.
The chart nuked. Market cap dumped to $1.5M (CMC) overnight. Theories flew. Some pointed at Wintermute, calling it a money laundering op. Others just said it felt like a clout grab gone wrong.
CT Starts Digging
The backlash didn’t stop at the token.
Clips of Finn’s old stream with @MrBeast resurfaced, no crypto talk in sight. Later, his appearance on @notthreadguy’s stream made things worse. Excuses didn’t land. Trust cratered.
Every token tied to him bled.
The “launch for Ye” meme collapsed before it even got traction.
A few influencers like @SOL_IDNESS defended him, arguing intentions weren’t bad. But the larger CT consensus? If Kanye is already a billionaire, why would he ever need a memecoin fee drop?
The Pumpfun Angle To Note
As the drama grew, @StalkHQ traced the $YZY chart. Turns out, much of the run was botted.
On Pumpfun, the dev pushed the chart all the way to $82M market cap, but only earned $3.62K in creator rewards.
That mismatch tells a story.
If devs don’t make money from Pumpfun rewards, their main incentive leans toward rugging.
Compare it to imperfect, another Pumpfun token. Market cap sits at just $1.27M (CMC). Yet its creator already pulled $3.53K in rewards. Smaller, but more sustainable.
The difference is clear: organic community-driven growth pays creators better. Botted pumps may look strong, but they usually collapse fast, leaving exit scams as the only profit path.
What This Shows
1. Pumpfun doesn’t reward fake pumps. When a chart rockets but creator rewards stay tiny, it’s often bot-driven.
2. Organic traction is king. Tokens that build communities see rewards track closely with their growth.
3. Red flag signal. High market cap + low rewards = botting risk, and often rugs.
It’s exactly what happened with $YZY. The chart went vertical, but the mismatch gave it away. And when the smoke cleared, the whale’s $768K entry became a $56K exit.
The Bigger Picture
For CT, the episode blends two familiar storylines: whales getting torched chasing hype, and founders turning launchpads into personal casinos. The Kanye angle just made it messier.
What was pitched as a “token for Ye” ended up as another quick pump, another crash, another bag burned.
And it leaves a blunt takeaway:
If a billionaire like Kanye isn’t claiming it, maybe you shouldn’t either.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/whale-burns-712k-on-solana-memecoin-yzy-as-ct-calls-out-finnbags-stunt/
