Preface

Coinye West is a historically significant Memecoin, released in 2014 as the second major Memecoin project, just a few weeks after Dogecoin. Due to trademark disputes related to Kanye West, this project was eventually forced to shut down.

What is Coinye West?

Coinye West (COINYE) is one of the most famous meme tokens in the history of cryptocurrency. It first appeared in early 2014 under the name ‘Coinye West’, just a few weeks after the very popular Dogecoin. The creation of this token revolved around the famous rapper Kanye West, and attempted to use his influence in popular culture at the time to attract the attention of the cryptocurrency community. Despite the initial name and image of Coinye clearly drawing inspiration from Kanye West’s brand, the project quickly encountered significant legal challenges. With Kanye West’s legal team filing a lawsuit, the Coinye West project eventually came to an end. Despite its short lifespan, the history of this token has left an indelible mark on the cryptocurrency world.

The creation and issuance of Coinye WEST

On January 11, 2014, Coinye West is expected to be officially released. Due to legal pressure, the developers of the token released the original code and mining software on January 7, advancing the issuance of Coinye West, which quickly entered the cryptocurrency’s field of vision but also attracted the attention of Kanye West’s legal team. The original intention of Coinye’s issuance was to create a stable and entertaining stablecoin in the blockchain. The initial design promised that Coinye would not pre-allocate tokens, but according to subsequent statements by the developers, approximately 0.37% of the total coin supply has been reserved for the founders to pay for legal and development expenses.

Coinye West’s legal challenge

Due to the direct association between the name Coinye West and Kanye West, this triggered a strong reaction from Kanye and his lawyers. Subsequently, Kanye West’s lawyers issued a cease-and-desist order, demanding the development team to immediately stop using the name ‘Coinye West,’ and accusing the token of trademark infringement, unfair competition, online piracy, and brand dilution.

The development team responded to this by changing the token’s name from ‘Coinye West’ to simply ‘Coinye’ and moving its domain from the original website to a new domain. This change was clearly an attempt to avoid legal disputes and keep the token operational. However, these efforts did not calm the dispute, as Kanye West’s legal team still filed a lawsuit against the token’s founders and strongly demanded the project to be shut down.

The Transformation and Decline of Coinye West

With the escalation of legal pressure, the Coinye development team had to make concessions and began to make changes to the project. On January 10, 2014, the developers announced that they had completely removed Kanye West’s name from Coinye’s publicity and instead used a hybrid creature of “half man half fish,” paying homage to an episode of South Park. Kanye West was unaware that he had been jokingly referred to as a “gay fish” to replace his original image.

These series of changes still failed to appease Kanye West and his lawyers, ultimately leading to the token’s founder being forced out of the project. Finally, on January 14, 2014, Coinye’s representative announced on Reddit: the developers basically dumped all the coins on the exchange and then left, after which Coinye’s official website was replaced with a short sentence: ‘Coinye is dead. You win, Kanye.’

The meme culture of Coinye West

Although the existence of Coinye West was not long-lasting, it has left a deep imprint on the history of cryptocurrency and internet culture. The creation of Coinye can be seen as an interesting exploration of celebrity culture and meme culture. Kanye West himself is known for his controversy and unique personality, which makes Coinye West an undeniable phenomenon in the field of cryptocurrency. The short life of this token also reflects the unpredictability of the cryptocurrency world, especially for projects based on celebrities, memes, or cultural phenomena, which often easily lead to legal risks and moral controversies, ultimately leading to their demise. Nevertheless, the birth and death of Coinye have provided a vivid example for the history of cryptocurrency, inspiring many other meme-based tokens that have achieved success in a more relaxed social and legal environment, such as Dogecoin and Shiba Inu.

Coinye WEST token information

According to the BaseScan data before the deadline (2025/2/19):

• Token Name: COINYE
• Total Supply: 1,000,000,000
• Token address: 0x0028e1E60167b48a938B785AA5292917E7eacA8b
• Token holders: 306,772

Gate.io Innovate Zone has listed COINYE, trade now:https://www.gate.io/pilot/base/coinye-west-coinye

Summary

The Coinye West project, although it quickly disappeared in legal disputes and brand issues, left a unique mark in the history of cryptocurrency. As the second meme token after Dogecoin, Coinye is not only a tribute to Kanye West’s cultural influence, but also a rare cautionary tale in the world of cryptocurrency. The rise and fall of this project remind us that the success of meme tokens depends not only on community support, but also on multiple factors such as legal, branding, and ethical considerations. As the cryptocurrency field continues to evolve, the story of Coinye West still provides valuable lessons for subsequent projects.