Golden Finance reported that rapper Kanye West posted a message on social media to deny the launch of cryptocurrencies, saying that "the tokens are just relying on speculation to harvest fans." Previously, the market's expectations for its token issuance were as high as 40%, but it quickly fell to 10% after its statement. Several Kanye-related altcoins plummeted, one of which fell by more than 65%, and the other fell by 89%. Kanye revealed that he had rejected a $2 million token offering proposal and said he would only devote himself to what he really was passionate about and understood. After his speech, he also suspected to be seeking to communicate with Coinbase CEO Brian Armstrong.