24-2-2025 – Kanye West, has stirred the cryptocurrency waters with a series of enigmatic social media proclamations that have left the digital asset community both intrigued and wary.
The saga began when Kanye engaged briefly with Binance chief Changpeng “CZ” Zhao’s commentary on decentralised exchanges (DEX), marking a fleeting interaction that saw him follow and swiftly unfollow the crypto mogul’s social media account.
What followed was a peculiar parade of posts, including the controversial mention of ‘Swasticoin’ and declarations about launching his own blockchain network. The rapper-turned-tech enthusiast appeared to grapple with basic cryptocurrency terminology, seeking clarification on fundamental concepts like ‘contract address’ from his followers.
Industry observers have raised red flags about the authenticity of these communications, with some suggesting Kanye ‘s account might have been compromised or leased to parties seeking to capitalise on his considerable influence for a potential meme coin launch.
The plot thickened when Kanye directed pointed criticism at Barstool Sports founder Dave Portnoy, accusing him of engaging in “pump and dump” schemes. Curiously, Portnoy and Polychain founder Olaf Carlson-Wee remained the only accounts followed by Kanye after his social media cleanup.
Despite earlier reports by CoinDesk about plans for a YZY token – intended to create a censorship-resistant financial ecosystem for his brand – no coin materialisation had occurred at press time. This development stands in stark contrast to Kanye ‘s previous dismissal of cryptocurrencies as mere “hype machines” just fortnight ago.
The authenticity concerns reached a crescendo when a video featuring Kanye emerged, prompting speculation about whether it was generated using artificial intelligence or deepfake technology. Adding to the confusion, time discrepancies noted in Kanye ‘s screenshot posts have further fuelled doubts about who truly controls his social media presence.