YZY Meme Coin vs CR7 Crypto – Exposing Fraud Schemes

The world of meme coins is volatile, and two recent projects, YZY Meme Coin and CR7 Crypto, have sparked significant interest and controversy. While these projects were initially hyped by the crypto community and their celebrity connections, both have been marred by allegations of fraud, insider trading, and rug pulls.

Let’s explore how these two meme coins compare, examine their controversial launches, and uncover the scams that followed.

READ ALSO: Is Hayden Davis the Mastermind Behind Kanye’s YZY Memecoin?

YZY Meme Coin: The Rise and Fall of a Celebrity Token

YZY Meme Coin, launched by Kanye West (also known as Ye), quickly gained attention after its introduction. The coin was designed to capitalize on Ye's Yeezy brand, with promises of creating a “new economy.”

Initially, YZY saw an explosive market cap of $3 billion, attracting both fans and investors eager to be part of the Yeezy empire. However, the token's tokenomics raised red flags early on, as 70% of the supply was allocated to Ye’s team, giving them enormous control over the market.

As the token skyrocketed in value, insiders quickly sold their holdings, leaving latecomers holding a significantly devalued asset.

Within hours, YZY’s value dropped by more than two-thirds, leading many to believe that the entire launch was a setup for insiders to profit at the expense of the retail traders. The crypto community quickly labeled the event a “rug pull,” a classic scam in the world of meme coins.

Key Points About YZY Meme Coin:

• Launch hype: The coin was marketed as part of Ye's larger Yeezy ecosystem.
   
• Insider trading: Early buyers, possibly insiders, profited while latecomers faced heavy losses.
   
• Rug pull: The rapid rise and fall of YZY’s value resembled a typical pump-and-dump scheme.

CR7 Crypto: A Fake Token Linked to Cristiano Ronaldo

The CR7 Crypto, a meme coin purportedly linked to football superstar Cristiano Ronaldo, also made headlines, but for all the wrong reasons. Named after Ronaldo’s famous jersey number, the CR7 token quickly gained attention with a reported market cap that surpassed $143 million.

However, investigations soon revealed that the token was not endorsed or even recognized by Cristiano Ronaldo.

Scammers had used Ronaldo’s name and image to create a sense of legitimacy around the token, luring investors with promises of exclusive crypto experiences tied to the football legend.

Despite early excitement, the coin was ultimately exposed as a scam, with the liquidity drained and investors left with worthless tokens.

Key Points About CR7 Crypto:

• Celebrity name hijack: The coin used Ronaldo’s name to gain traction.
   
• Lack of endorsement: Ronaldo never launched or supported the token.
   
• Scam warning: The project was a classic example of a fraud exploiting a famous figure’s brand.

READ ALSO: CR7 Token And Meme Coins Crypto Jackpot Or Total Scam

Comparing YZY Meme Coin and CR7 Crypto

While both YZY Meme Coin and CR7 Crypto share similarities—both are celebrity-backed tokens with little real utility and both experienced massive price volatility—they differ in their approach and outcomes.

1. Celebrity Backing:

• YZY: The token was linked directly to Kanye West and his Yeezy brand, offering a “new economy” vision.
   
• CR7: The CR7 token claimed to be endorsed by Cristiano Ronaldo, but this was never the case.

2. Market Performance:

• YZY: Saw an initial boom, reaching a $3 billion market cap, followed by a dramatic crash.
   
• CR7: Experienced a surge in value, only to collapse after the rug pull.

3. Scam Nature:

• YZY: Although not officially labeled a rug pull, insiders had control over most of the supply, leading to accusations of manipulation.
   
• CR7: A clear rug pull with scammers draining liquidity after exploiting Ronaldo’s name.

Both projects share common hallmarks of scams in the crypto world, such as unverified celebrity endorsements, lack of transparency, and a focus on hype-driven marketing without delivering real value.

Conclusion

The YZY Meme Coin and CR7 Crypto are both cautionary tales in the world of cryptocurrency, highlighting the risks associated with celebrity-backed tokens. While both coins were initially attractive to investors due to their celebrity connections, they ultimately proved to be fraudulent schemes that resulted in massive losses for many.

The key takeaway is clear: celebrity endorsements in the crypto world can often be a red flag, and due diligence is essential before investing in any token.

If you're looking for a safer way to engage with cryptocurrencies, consider trading on Bitrue Exchange. For the latest updates and insights into the crypto world, check out the Bitrue Blogs.

FAQ

What is YZY Meme Coin?

YZY Meme Coin is a cryptocurrency launched by Kanye West, tied to his Yeezy brand. However, its tokenomics and insider trading raised suspicions, leading many to label it a rug pull.

Did Cristiano Ronaldo create a meme coin?

No, the CR7 meme coin was not created or endorsed by Cristiano Ronaldo. It was a scam that exploited his name for fraudulent purposes.

How did YZY Meme Coin perform in the market?

YZY saw a massive rise in value, reaching $3 billion, only to crash by more than 70% in a matter of hours due to insider trading and liquidity manipulation.

How can you spot a fake celebrity crypto token?

Look for red flags such as lack of official endorsements, anonymous developers, no clear tokenomics, and hype-driven marketing.

Are celebrity-backed crypto tokens always a scam?

Not all celebrity-backed tokens are scams, but they often carry higher risks. Always do thorough research before investing in such tokens.