Ye, the artist previously referred to as Kanye West, has stirred controversy as soon as once more, teasing the launch of a cryptocurrency token dubbed “Swasticoin.”
In a sequence of now-deleted social media posts on Saturday, Ye introduced plans to launch the token subsequent week, marking a pointy reversal from his beforehand acknowledged criticism of comparable tasks for exploiting followers with hype.
Ye Claims ‘Swasticoin’ Token Will Prioritize Jewish Group, Pals, and Household
In accordance with Ye’s posts, the token will prioritize availability to Jewish folks, buddies, and household.
“I’m going to open the CA [contract address] for my Swasticoin to Jewish folks and my family and friends first,” he wrote, furthering a string of current offensive remarks concentrating on the Jewish neighborhood.
Regardless of the backlash, Ye has remained unapologetic, elevating alarm throughout numerous platforms.
Along with revealing the token, Ye sought enter on blockchain networks akin to Ethereum, Solana (misspelled as “Solona” in his posts), BNB Chain, and Hyperliquid.
He additionally tried to attach with Binance co-founder Changpeng “CZ” Zhao.
Ye reposted one in all Zhao’s feedback in regards to the usability of decentralized exchanges, prompting CZ to react with shock at Ye’s large following, which reportedly surged after the interplay.
Kanye west is about to launch a token. pic.twitter.com/s1VExp0i1b
— Ash Crypto (@Ashcryptoreal) February 22, 2025
Whereas Ye publicly refers back to the token as “Swasticoin,” sources near the artist informed CoinDesk that the venture could as a substitute be named “YZY” and goals to bypass Shopify’s restrictions on his Yeezy merchandise retailer.
In accordance with these sources, Ye plans to retain 70% of the token’s provide for himself, elevating issues about centralization and potential regulatory scrutiny.
This isn’t Ye’s first brush with controversy over Nazi-associated symbols. Not too long ago, he confronted widespread condemnation after promoting t-shirts that includes a swastika underneath the product code “HH-01,” allegedly referencing “Heil Hitler.”
A business aired throughout the Tremendous Bowl directed viewers to the web site promoting the shirts, which has since been taken down.
Regardless of asserting a token launch “subsequent week,” Ye’s unpredictable nature leaves room for doubt.
His newest publish urged an much more bold pivot: “Time to launch my very own blockchain,” hinting that plans may shift or be deserted fully.
Earlier this month, Ye revealed that he turned down a $2 million supply to take part in an alleged crypto rip-off concentrating on his fan base.
The scheme reportedly concerned West posting a fraudulent crypto promotion to his 32.6 million followers and later claiming that his account had been hacked—by which period victims may have already misplaced vital sums.
Meme Cash Have been the Most Standard Crypto Narrative in 2024: CoinGecko
Meme cash dominated the crypto panorama in 2024, capturing almost a 3rd of investor curiosity, in keeping with a CoinGecko report.
The research, which analyzed web site visitors from January 1 to December 21, revealed that 31% of crypto-related searches centered round these extremely speculative tokens.
Among the many numerous developments, the “principal meme coin narrative” alone accounted for 15% of curiosity, a notable enhance of over six share factors from 2023.
Solana-based meme cash adopted intently because the fourth-largest class, with an 8% share of curiosity.
Moreover, different meme coin-related developments, akin to these tied to Coinbase’s Base blockchain and AI-themed meme cash, ranked among the many prime narratives, additional solidifying the sector’s prominence.
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