Coinye is a scam with somewhere in the region of 500,000,00 to 1,333,332,000 coins premined and dumped (for around 8 or 9 satoshi) some 3 days after launch on a pop-up exchange.

Kanye West was just used as a publicity tool to suck in enough miners/buyers so thay they could get enough signatures for a petition limit to get it on cryptsy (then they could dump the premine right away). They were setting up cryptsy petitions within hours of the launch.

The new owners had an opportunity to completely redesign it and comply but it seems they prefer to go down the same dead end as the original devs, straight into the great crypto toilet bowl of history.