Cryptocurrency gets hip: ‘Coinye West’

Published: Thursday, 2 Jan 2014 | 9:23 PM ET

By: Yannick LeJacq

Kanye West is inspiration for digital currency

The Squawk Box team discuss plans for "Coinye West," a digital currency inspired by rapper Kanye West.

There are plenty of digital currencies out there for those of us fed up with the boring old paper kind bank produced and backed by the government. But what about the oft-neglected overlap between frenzied crypto-anarchists and hip hop fans?

Later this month, that gaping hole in e-commerce may finally be filled by "Coinye West," a newly minted cryptocurrency inspired by professional rapper and supreme egoist Kanye West.

Much like Dogecoin, the cryptocurrency inspired by the bug-eyed Shiba Inu Internet meme, Coinye is based on the virtual currency Bitcoin.

(Read more: Don't rule out a ban on virtual currencies: Peercoin)

Coinye's anonymous creators began promoting the currency late in 2013, even reaching out to Yeezus himself on Twitter on New Year's Eve to try to pique the musician's interest. West, who has no connection to the project, has yet to make any public statement.

Coinyewest.com

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Cryptocurrency gets hip: 'Coinye West'