Kanye West's Swasticoin Launch Plan - Crypto for Anti-Semitic Movement?

Kanye West is no stranger to controversy, but his latest venture into cryptocurrency has raised serious ethical and financial concerns. 

With a history of inflammatory remarks and provocative actions, Ye’s announcement of Swasticoin has left the public questioning his true intentions. 

Is this an elaborate marketing stunt, a misguided financial move, or something more sinister?

Kanye West Sparks Controversy with Swasticoin Cryptocurrency

Ye, formerly known as Kanye West, has once again ignited controversy by teasing the launch of a new cryptocurrency called Swasticoin. 

The move follows a series of anti-Semitic remarks and actions that have drawn widespread condemnation.

In now-deleted posts on social media, Ye claimed the token would be initially available to Jewish individuals, friends, and family before a broader release.

This announcement marks a drastic shift from Ye’s previous stance on cryptocurrency projects, which he had criticized as exploitative. 

Despite the immediate backlash, he has remained defiant, further fueling concerns about his motivations.

Read also: Market Response and XRP Price Reaction to Brazil’s Spot XRP ETF Approval

Ye’s Cryptocurrency Vision: Swasticoin or YZY?

Source: X.com/@kanyewest

Beyond the controversial name, there are indications that Ye may rebrand the project as “YZY” instead of Swasticoin. 

Sources suggest this is an attempt to bypass restrictions placed by Shopify on his Yeezy merchandise store. However, the branding change does not erase the underlying controversy surrounding the project.

Additionally, Ye reportedly plans to retain 70% of the token supply, raising concerns about centralization, price manipulation, and potential legal scrutiny. 

This aligns with broader skepticism surrounding celebrity-backed cryptocurrencies, which have frequently been associated with pump-and-dump schemes.

Seeking Blockchain Advice & CZ’s Attention

Ye has also publicly sought advice on which blockchain network to launch his token on, mentioning Ethereum, Solana (misspelled as “Solona”), BNB Chain, and Hyperliquid. 

He even attempted to engage Binance co-founder Changpeng “CZ” Zhao, leveraging his massive online following to generate hype.

Kanye’s Troubling History with Nazi Symbolism

This crypto launch is not Ye’s first encounter with Nazi-related symbols. Earlier this month, he faced backlash for selling t-shirts featuring a swastika under the product code “HH-01” (allegedly referencing “Heil Hitler”). 

These shirts were even promoted in a Super Bowl commercial, drawing widespread condemnation before the product was removed.

Given his history of anti-Semitic statements, including self-identifying as a Nazi and praising Adolf Hitler, the launch of a cryptocurrency named “Swasticoin” raises alarm among various communities and organizations.

Crypto Community’s Reaction & Dave Portnoy’s Criticism

The announcement has sparked strong reactions across the crypto and finance world. Barstool Sports founder Dave Portnoy openly criticized Ye’s plans, calling it a scam meme coin and warning that “snipers will get rich while normal people will be crushed.”

In response, Ye posted a video wearing a swastika t-shirt, directly addressing Portnoy and stating: 

“When you start telling people my coin is not real and you try to play with my money, that’s the last time we’ll be talking online.” 

This exchange further solidified concerns that Ye’s crypto project is more about personal vengeance and controversy than genuine technological innovation.

Will Swasticoin Actually Launch?

Despite Ye’s repeated claims of an imminent launch, his history of abandoning projects and erratic behavior leaves room for doubt. In his latest posts, he even hinted at a bigger ambition: launching his own blockchain, raising further questions about the feasibility of his plans.

Earlier this month, Ye revealed that he turned down a $2 million offer to participate in a crypto scam that targeted his followers. Ironically, many now believe Swasticoin could end up being another questionable celebrity-driven crypto project.

FAQ

1. What is Swasticoin?

Swasticoin is a controversial cryptocurrency teased by Kanye West, raising concerns due to its name and his history of anti-Semitic remarks.

2. Will Swasticoin actually launch?

Ye claims the launch is imminent, but his history of abandoned projects makes it uncertain.

3. Why is the project controversial?

The name, Ye’s history of Nazi-related statements, and the potential for financial manipulation have all contributed to the backlash.

4. Is Swasticoin legal?

If launched, it could face regulatory scrutiny due to its centralized nature and potential violations of financial laws.