Ye, the artist formerly known as Kanye West, has stirred controversy once again, teasing the launch of a cryptocurrency token dubbed “Swasticoin.”
In a series of now-deleted social media posts on Saturday, Ye announced plans to release the token next week, marking a sharp reversal from his previously stated criticism of similar projects for exploiting fans with hype.
Ye Claims ‘Swasticoin’ Token Will Prioritize Jewish Community, Friends, and Family
According to Ye’s posts, the token will prioritize availability to Jewish people, friends, and family.
“I’m going to open the CA [contract address] for my Swasticoin to Jewish people and my friends and family first,” he wrote, furthering a string of recent offensive remarks targeting the Jewish community.
Despite the backlash, Ye has remained unapologetic, raising alarm across various platforms.
In addition to revealing the token, Ye sought input on blockchain networks such as Ethereum, Solana (misspelled as “Solona” in his posts), BNB Chain, and Hyperliquid.
He also attempted to connect with Binance co-founder Changpeng “CZ” Zhao.
Ye reposted one of Zhao’s comments about the usability of decentralized exchanges, prompting CZ to react with surprise at Ye’s massive following, which reportedly surged after the interaction.
While Ye publicly refers to the token as “Swasticoin,” sources close to the artist told CoinDesk that the project may instead be named “YZY” and aims to bypass Shopify’s restrictions on his Yeezy merchandise store.
According to these sources, Ye plans to retain 70% of the token’s supply for himself, raising concerns about centralization and potential regulatory scrutiny.
This isn’t Ye’s first brush with controversy over Nazi-associated symbols. Recently, he faced widespread condemnation after selling t-shirts featuring a swastika under the product code “HH-01,” allegedly referencing “Heil Hitler.”
A commercial aired during the Super Bowl directed viewers to the website selling the shirts, which has since been taken down.
Despite announcing a token launch “next week,” Ye’s unpredictable nature leaves room for doubt.
His latest post suggested an even more ambitious pivot: “Time to launch my own blockchain,” hinting that plans could shift or be abandoned entirely.
The scheme reportedly involved West posting a fraudulent crypto promotion to his 32.6 million followers and later claiming that his account had been hacked—by which time victims could have already lost significant sums.
Meme Coins Were the Most Popular Crypto Narrative in 2024: CoinGecko
The study, which analyzed site traffic from January 1 to December 21, revealed that 31% of crypto-related searches centered around these highly speculative tokens.
Among the various trends, the “main meme coin narrative” alone accounted for 15% of interest, a notable increase of over six percentage points from 2023.
Solana-based meme coins followed closely as the fourth-largest category, with an 8% share of interest.
Additionally, other meme coin-related trends, such as those tied to Coinbase’s Base blockchain and AI-themed meme coins, ranked among the top narratives, further solidifying the sector’s prominence.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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By Nermeen Nabil Khear 