Kanye West, has stirred fresh controversy with the announcement of a new cryptocurrency token called “Swasticoin,” set to launch next week. The revelation came through a series of erratic social media posts on Saturday, where Ye hinted at his plans to enter the crypto space despite previously criticizing celebrity-led token projects as exploitative.
The announcement marks a stark reversal from Ye’s earlier stance, where he condemned such ventures, claiming they “prey on fans with hype.” Now, just weeks later, he appears to be embracing the very trend he once criticized—albeit with a highly provocative twist.
The name “Swasticoin” has sparked immediate outrage, given Ye’s recent history of inflammatory posts targeting the Jewish community. His continued pattern of offensive behavior, including the promotion of swastika-emblazoned merchandise, has led to widespread condemnation and personal fallout, such as the reported dissolution of his marriage to Bianca Censori.
This latest move has further fueled public backlash, with many accusing Ye of using shock tactics to gain attention and questioning the ethical implications of launching a token rooted in such a controversial symbol.
“I’m going to open the CA [contract address] for my Swasticoin to Jewish people and my friends and family first. Let’s see if stereotypes exist for a reason.” Ye said in one post, according to TheBlock
At the time of reporting, Ye’s X account has been deactivated for the second time in the month of February, over his Anti-Semitic posts.
‘YZY’ Token, ‘Swasticoin,’ or a New Blockchain?
Ye, continues to stir controversy with conflicting reports about his entry into the crypto world. According to three sources close to Ye, the artist plans to launch a token next week, potentially called “YZY,” with 70% of its supply reserved for himself, as reported by CoinDesk. Insiders claim the token is intended to bypass Shopify’s ban on his Yeezy store, offering a new payment avenue free from traditional platform restrictions.
However, Ye’s erratic social media posts suggest a different narrative as only just yesterday, he announced the incoming launch of another token named “Swasticoin,” a provocative and offensive move that sparked widespread outrage. The discrepancy between reports of “YZY” and Ye’s public posts has led to confusion about his actual plans—raising the possibility that two separate projects are in play or that Ye’s volatile behavior could lead to last-minute changes.
This wouldn’t be the first time Ye has used Nazi imagery for commercial purposes. Recently, he began selling shirts on his Yeezy site under the label HH-01—short for “Heil Hitler”—featuring a swastika printed on a plain white tee. These shirts were quietly promoted during a Super Bowl commercial, which directed viewers to his website without mentioning the offensive merchandise. The backlash was swift, leading to Shopify removing the products and eventually taking down the entire site.
Ye’s crypto ambitions also seem to be evolving by the minute. In a recent post, he hinted at a bigger vision beyond tokens, saying, “Time to launch my own blockchain,” suggesting that he may abandon both the “YZY” and “Swasticoin” projects in favor of something even more audacious.
Quick Facts:
- Kanye West plans to introduce ‘Swasticoin,’ a cryptocurrency named after a hate symbol, following recent provocative actions.
- The announcement has led to widespread condemnation and potential legal challenges due to the offensive nature of the token.
