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ChainCatcher reports, according to CoinDesk, that renowned rapper Kanye West plans to launch a cryptocurrency token YZY. As revealed by three insiders of the project, in the token distribution scheme, Kanye himself will receive 70% share, liquidity supply accounts for 10%, and investors account for 20%. The project information was disclosed by Yeezy's Chief Financial Officer Hussein Lalani via email. The YZY token will serve as the official currency of the Yeezy brand and can be used for payments on its website. This move is seen as an evasion from platforms like Shopify that have severed cooperation due to his controversial remarks. The project was originally scheduled to go on sale at 6 pm on February 21st on the Yeezy website but has been postponed until February 22nd. Insiders say that the delay is related to an incident involving Argentine President Milei's associated tokens.

PANews reported on February 21 that data from Coinglass shows that in the past hour, a total of $105 million has been liquidated across the network. Of this amount, short positions accounted for $101 million and long positions accounted for $4.2254 million.