Crypto Community Skeptical as Kanye West Teases Blockchain Venture Amid Controversial Posts

• Ye plans to launch YZY tokens despite past criticism of celebrity-backed crypto.
• His token structure raises concerns, with 70% ownership and only 10% for liquidity.
• The project’s timeline remains uncertain as Ye hints at launching his own blockchain.

Under his Ye artist name, Kanye West sparked worldwide media attention on February 22, 2025, through unpredictable social media posts regarding cryptocurrency. The artist stated his plans to introduce Swasticoin tokens during the following week despite his previous skepticism toward this form of cryptocurrency project. Ye had previously criticized celebrity-backed tokens for exploiting fans with hype, but his latest announcement suggests a shift in direction. The posts included a mix of cryptocurrency references and controversial remarks targeting the Jewish community, raising concerns across online platforms.

In one post, Ye stated he plans to open the token’s contract address first to “Jewish people and my friends and family.” The artist made this declaration following numerous offensive remarks that included Nazi-related symbolism throughout several weeks. He requested input from his followers regarding blockchain network systems including Ethereum, Solana, BNB Chain and Hyperliquid before trying to reach Binance co-founder Changpeng ” CZ” Zhao. The erratic nature of these updates has left observers questioning whether the launch will proceed as promised.

Token Name and Purpose

According to individuals close to Ye, the token is probably named “YZY” after his Yeezy brand instead of “Swasticoin.” Multiple project sources have confirmed that Ye planned to maintain ownership of 70% of all YZY tokens. By creating “YZY” tokens, Ye aims to bypass restrictions imposed by platforms like Shopify Stores, which restricted his Yeezy commercial operations because of his controversial actions. Despite the arrangement’s design, it devotes only 10% to liquidity management while allocating 20% to investors, raising centralization issues.

The potential YZY token aligns with Ye’s broader efforts to create a censorship-resistant financial system for his brand. However, his mention of “Swasticoin” in public posts muddies the waters. Some speculate the inflammatory name could be a publicity stunt, given his history of leveraging Nazi imagery for attention. For instance, Ye recently sold “HH-01” shirts featuring a swastika, a move that ended with his website shutting down after backlash.

Uncertainty Looms Over Launch Timeline and Feasibility

Ye’s claim of a launch next week remains unconfirmed beyond his social media posts, and his track record adds doubt. His most recent update hinted at an even bolder plan: “Time to launch my own blockchain.” This suggests he might pivot or abandon the token idea entirely. The crypto community has responded with skepticism, noting the risks of celebrity-driven projects like the collapsed LIBRA token endorsed by Argentina’s President Javier Milei.

CZ, whom Ye briefly followed on X, reacted to the artist’s posts with surprise at his massive reach. Yet, no concrete details about the token’s development have emerged. Observers await further developments to see if Ye follows through or if this becomes another abandoned venture in his unpredictable career.