Ye, the artist once known as Kanye West, has ignited a firestorm in the crypto world by teasing the launch of a new token dubbed “Swasticoin.” In a flurry of since-deleted social media posts over the weekend, Ye revealed plans to roll out the token as early as next week, a move that flips his earlier stance against celebrity-driven crypto hype.

Swasticoin’s Controversial Twist: Priority for Jewish Community and Inner Circle

Ye’s announcement took an eyebrow-raising turn when he claimed “Swasticoin” would first be offered to Jewish people, friends, and family via its contract address. “I’m opening the CA to Jewish people and my crew first,” he posted, doubling down on recent inflammatory comments that have already drawn ire online. Unfazed by the backlash, Ye appears to be leaning into the chaos.

The artist also polled his followers on which blockchain to use—naming Ethereum, Solana (which he typo’d as “Solona”), BNB Chain, and Hyperliquid—showing he’s still hashing out the details. In a bold outreach, Ye tagged Binance co-founder Changpeng “CZ” Zhao, reposting one of CZ’s remarks on decentralized exchanges. CZ, caught off guard, marveled at Ye’s massive audience, which reportedly spiked after the exchange.

YZY or Swasticoin? Insider Scoop Hints at a Rebrand

While Ye’s public hype centers on “Swasticoin,” whispers from his camp suggest the token might actually launch as “YZY.” Insiders say it’s a workaround to dodge Shopify’s crackdown on his Yeezy merchandise store. Sources also claim Ye intends to hoard 70% of the token supply, sparking worries about centralization and a potential SEC spotlight.

Ye’s History of Edge-Pushing

This isn’t Ye’s first dance with controversy. Just weeks ago, he was slammed for hawking swastika-branded t-shirts coded “HH-01” (a nod to “Heil Hitler,” critics say) during a Super Bowl ad. The site hosting the gear? Shut down shortly after. With Ye now hinting at “launching my own blockchain,” skepticism abounds—his track record suggests this could all fizzle out as quickly as it flared up.

Meme Coin Mania in 2024

Ye’s timing couldn’t be sharper. A recent CoinGecko report pegged meme coins as 2024’s hottest crypto trend, snagging 31% of investor curiosity. Solana-based tokens alone claimed an 8% slice, while the broader meme coin craze surged by over six points from last year. If “Swasticoin” (or YZY) drops, it’s poised to ride this wave—wanted or not.

A Rejected Scam and a Wild Card Future

Adding intrigue, Ye recently bragged about rejecting a $2 million crypto scam pitch that would’ve had him shill a fake token to his 32.6 million followers, only to cry “hack” after the damage was done. Whether “Swasticoin” is legit or another stunt, one thing’s clear: Ye’s crypto gambit is a high-stakes wildcard.

The flashy “Swasticoin” name might scream trouble, but the hidden red flag is Ye’s plan to hold 70% of the supply. That kind of centralization could tank its value overnight if he dumps it— a classic “rug pull” risk that beginners often miss until it’s too late.