23.02.2025 14:30
Kanye West announced a new cryptocurrency called Swasticoin. The artist stated that he will prioritize the Jewish community and plans to allocate 70% of the token supply for himself. West, who has been in contact with Binance founder CZ, has sparked discussions in the crypto world with this initiative.
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Kanye West, known as Ye in the music world, is at the center of a new controversy in the cryptocurrency market. The artist announced that he will launch a new cryptocurrency called Swasticoin, surprising the industry. His statement that the token distribution will primarily be made to the Jewish community and his plan to allocate 70% of the project to himself has raised concerns in the crypto world.
Ye's Crypto Move Sparked Controversies
The artist, recognized as Kanye West in the music world and now using the name Ye, has ignited a new controversy in the cryptocurrency market. In a series of recent posts on his social media accounts, the artist announced that he will launch a new cryptocurrency called "Swasticoin," shocking the industry. This announcement is noteworthy as it follows Ye's previous characterization of crypto projects as "hype hunting."
This initiative, which is a continuation of the controversial statements the artist has made recently towards the Jewish community, stated that the token distribution will primarily be made to the Jewish community. In his post regarding the matter, Ye stated, "I will first open the contract address for Swasticoin to Jewish people, my friends, and my family. Let's see if there is a reason for the existence of stereotypes?"
Industry sources reported that Ye has been researching various Blockchain platforms and trying to communicate with Binance co-founder Changpeng Zhao. Zhao commented on one of Ye's posts, saying, "Did a retweet get it to 33.2 million followers? Wow."
Three different sources providing information about the project suggested that the artist is considering allocating 70% of the planned token supply to himself and that this digital asset would be used to bypass the restrictions imposed by Shopify on Yeezy's store. The same sources also indicated that the token's name could be YZY, suggesting that this could be a different initiative from the Swasticoin project.
This move is seen as a continuation of Ye's tendency to use Nazi symbolism. Recently, the artist launched t-shirts featuring the swastika and named HH-01, an abbreviation of "Heil Hitler," promoting these products through advertisements during the Super Bowl, but the related website was shortly thereafter taken offline.
Ye's recent post stating, "It's time to launch my own Blockchain network," is considered a harbinger of new projects. However, due to the artist's unpredictable decisions and project history, there is also a possibility that this initiative may change direction or be canceled.
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