Ye's "Swasticoin" Sparks Outrage, Jewish Exclusivity Raises Concerns

Artist Ye, formerly known as Kanye West, has sparked controversy once again with his announcement of a cryptocurrency token, tentatively named "Swasticoin." In a series of now-deleted social media posts, Ye revealed plans to launch the token next week, a move that contradicts his previous criticism of similar projects for exploiting fans with hype.

According to Ye's posts, the token will prioritize availability to Jewish people, friends, and family. He wrote, "I’m going to open the CA [contract address] for my Swasticoin to Jewish people and my friends and family first." This statement has drawn backlash and raised alarm across various platforms, as it follows a string of recent offensive remarks targeting the Jewish community.

In addition to revealing the token, Ye sought input on blockchain networks such as Ethereum, Solana, BNB Chain, and Hyperliquid. He also attempted to connect with Binance co-founder Changpeng "CZ" Zhao, reposting one of Zhao's comments about the usability of decentralized exchanges. CZ reacted 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. Earlier this month, Ye revealed that he turned down a $2 million offer to participate in an alleged crypto scam targeting his fan base.

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