The perceived odds of Ye, the rapper formerly known as Kanye West, launching a token have plummeted after he posted on social media that he is “not doing a coin” in a post where he added that “coins prey on the fans with hype.”

That post saw the perceived odds of Kanye launching a token this month, which at one point reached 40% on the popular prediction market Polymarket, plunge to around 10% as traders reacted to it.

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