Artist Ye, formerly recognized as Kanye West, Hints at Upcoming Launch of ‘Swasticoin’ Token

Ye, the artist formerly known as Kanye West, has once again sparked controversy by teasing the upcoming launch of a cryptocurrency token named “Swasticoin.”

In a series of now-removed social media updates on Saturday, Ye revealed intentions to introduce the token next week, representing a stark change from his earlier criticisms of similar projects that he claimed exploited fans through hype.

Ye Asserts ‘Swasticoin’ Token Will Focus on Jewish Community, Friends, and Family

According to Ye’s posts, the token will be made available primarily to Jewish individuals, friends, and family.

“I’m going to open the CA [contract address] for my Swasticoin to Jewish people and my family and friends first,” he stated, continuing a pattern of recent controversial comments aimed at the Jewish community.

Despite facing backlash, Ye has remained defiant, raising concerns across various platforms.

In addition to announcing the token, Ye sought feedback on blockchain networks such as Ethereum, Solana (misspelled as “Solona” in his posts), BNB Chain, and Hyperliquid.

He also attempted to engage with Binance co-founder Changpeng “CZ” Zhao.

Ye shared one of Zhao’s remarks regarding the functionality of decentralized exchanges, leading CZ to express surprise at Ye’s substantial following, which reportedly increased following their interaction.

Kanye west is about to launch a token. pic.twitter.com/s1VExp0i1b

— Ash Crypto (@Ashcryptoreal) February 22, 2025

While Ye publicly refers to the token as “Swasticoin,” sources close to the artist informed CoinDesk that the project may actually be named “YZY” and aims to circumvent Shopify’s restrictions on his Yeezy merchandise store.

According to these sources, Ye intends to retain 70% of the token’s supply for himself, raising concerns regarding centralization and potential regulatory oversight.

This is not Ye’s first encounter with controversy related to Nazi symbols. Recently, he faced widespread backlash after selling t-shirts featuring a swastika under the product code “HH-01,” allegedly alluding to “Heil Hitler.”

A commercial aired during the Super Bowl directed viewers to the website selling the shirts, which has since been removed.

Despite announcing a token launch “next week,” Ye’s unpredictable behavior leaves room for uncertainty.

His latest post suggested an even more ambitious shift: “Time to launch my own blockchain,” indicating that plans may change or be entirely abandoned.

Earlier this month, Ye disclosed that he declined a $2 million offer to participate in an alleged crypto scam targeting his fan base.

The scheme reportedly involved West posting a deceptive crypto promotion to his 32.6 million followers and later claiming that his account had been hacked—by which time victims may have already incurred significant losses.

Meme Coins Were the Most Popular Crypto Narrative in 2024: CoinGecko

Meme coins dominated the cryptocurrency landscape in 2024, capturing nearly a third of investor interest, according to a CoinGecko report.

The study, which analyzed website traffic from January 1 to December 21, revealed that 31% of crypto-related searches focused on these highly speculative tokens.

Among the various trends, the “primary meme coin narrative” alone accounted for 15% of interest, a significant increase of over six percentage points from 2023.

Solana-based meme coins closely followed as the fourth-largest category, with an 8% share of interest.

Additionally, other meme coin-related trends, such as those associated with Coinbase’s Base blockchain and AI-themed meme coins, ranked among the top narratives, further solidifying the sector’s prominence.

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