Ye, the artist previously often known as Kanye West, has stirred controversy as soon as once more, teasing the launch of a cryptocurrency token dubbed “Swasticoin.”
In a collection 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 initiatives for exploiting followers with hype.
Ye Claims ‘Swasticoin’ Token Will Prioritize Jewish Neighborhood, Pals, and Household
Based on 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 latest offensive remarks focusing on the Jewish neighborhood.
Regardless of the backlash, Ye has remained unapologetic, elevating alarm throughout varied platforms.
Along with revealing the token, Ye sought enter on blockchain networks equivalent 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 instructed CoinDesk that the mission could as an alternative be named “YZY” and goals to bypass Shopify’s restrictions on his Yeezy merchandise retailer.
Based on 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. Lately, he confronted widespread condemnation after promoting t-shirts that includes a swastika underneath the product code “HH-01,” allegedly referencing “Heil Hitler.”
A industrial 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 prompt an much more bold pivot: “Time to launch my very own blockchain,” hinting that plans may shift or be deserted completely.
Earlier this month, Ye revealed that he turned down a $2 million provide to take part in an alleged crypto rip-off focusing 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 Common Crypto Narrative in 2024: CoinGecko
Meme cash dominated the crypto panorama in 2024, capturing practically a 3rd of investor curiosity, in accordance with a CoinGecko report.
The research, which analyzed website visitors from January 1 to December 21, revealed that 31% of crypto-related searches centered round these extremely speculative tokens.
Among the many varied developments, the “primary meme coin narrative” alone accounted for 15% of curiosity, a notable improve of over six proportion factors from 2023.
Solana-based meme cash adopted carefully because the fourth-largest class, with an 8% share of curiosity.
Moreover, different meme coin-related developments, equivalent to these tied to Coinbase’s Base blockchain and AI-themed meme cash, ranked among the many high narratives, additional solidifying the sector’s prominence.
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