Kanye West plans ‘Swasticoin,’ eyes blockchain launch, and claims ‘only broke boys rug pull’

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First Ye’s own coin, then Ye’s own chain, but the crowd’s vibe is off. Nobody’s sure if Ye did those crypto tweets, or if it was someone else.

Kanye West, who now goes by Ye, posted a series of crypto tweets on Saturday night, after sharing a tweet from Changpeng “CZ” Zhao, in which CZ stated that DEX is challenging to use.

He also followed CZ’s X account, only to unfollow it shortly thereafter.

As Ye fired off numerous tweets, he slipped the name ‘Swasticoin.’ He claimed he would list the meme coin on a DEX because it is decentralized.

Crypto community members flooded Ye with chain recommendations, from Ethereum and Solana to BNB Chain. Ye, seemingly confused, turned to his followers for advice on the best network and support.

The latest option he weighed in was Hyperliquid.

Ye then shifted to posts containing offensive language, targeting various groups and seeking direct contact with CZ.

In one post, he referenced ‘Swasticoin,’ claiming those opposed to his Nazi posts were requesting the contract address (CA). He asked for clarification on the term ‘CA.’

“PEOPLE WHO DIDN’T LIKE THE NAZI POSTS HITTING ME UP FOR THE CA ON MY SWASTICOIN. Wait What’s a CA?” Ye stated.

Ye also declared his intention to launch his own blockchain amid a series of tweets, including a now-deleted post that claimed ‘only broke boys rug pull.’

Some tweets were directed at Dave Portnoy, the founder of Barstool Sports. Ye accused Portnoy of “pump and dump,” stealing from his followers, and being a “thief.”

Ye, after unfollowing CZ, now follows only Portnoy and Polychain founder Olaf Carlson-Wee.

Community notes

Members of the crypto community have speculated that Ye might have transferred his X account’s control, either through sale or lease, to a group intending a meme coin launch.

There is 0.0 shot Heil Kanye is running his account. It the scammers planning the rug

But if you can send @kanyewest a message tell him me and Taylor said to go fuck himself.

— Dave Portnoy (@stoolpresidente) February 23, 2025

An observer noted time variations across Ye’s screenshots, raising questions about the account’s management.

The people controlling Kanye account are slipping up with different timezones tweeted in screenshots differently. Kanye token will probably rug and he will delete post like every other rapper. Avoid this scam https://t.co/PRpuu22ddP pic.twitter.com/h7uSQa5weh

— scooter (@imperooterxbt) February 22, 2025

Concerns about a ‘rug pull’ regarding Ye’s token have been raised. Due diligence is recommended.

Ye’s X account dropped a video featuring him speaking amid mounting concerns, yet X users suspected it was a deepfake or AI creation. Several more tweets followed before Ye ended his rant with a Binance post.

No coin launch

Despite all the crypto chatter from Ye, no coin actually came out at the time of reporting.

On Friday, CoinDesk reported that the rap mogul planned to launch a coin called YZY. This launch would be part of his strategy to create a censorship-resistant financial ecosystem for his brand. The coin aims to serve as the official currency on his website and help him bypass platforms that have disassociated from him due to his controversial posts.

Ye hit X Friday night, saying he’s dropping his coin next week. Plus, he called every other token available “fake.”

Just two weeks ago, he dissed coins for being hype machines.

It’s a stark irony, though Ye’s track record suggests it shouldn’t be unexpected.

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