The post Extreme ideology tokens increase amid Kanye West’s Swasticoin launch appeared on BitcoinEthereumNews.com.

The cryptocurrency industry has been the subject of debate in the last few weeks after the increase in tokens promoting extremist ideologies. While the sector has been seen as a place where community-led initiatives thrive, there have been questions surrounding the limits of decentralization that it needs. The debate is coming at a time when popular sensation Kanye West is planning to launch his token called Swasticoin. The controversial figure announced the launch of the token amid several controversial posts on the blogging platform X (formerly known as Twitter). Kanye West’s recent statements included several antisemitic remarks targeting the Jewish community, triggering criticism and marking a shift from his criticism of celebrities who prey on their followers by launching rug pull tokens. Kanye West’s Swasticoin token triggers troubling trends On Saturday, Kanye West made a post suggesting that he was launching a token that he said was open to friends, family, and the Jewish people. “I’m going to open the CA [contract address] for my Swasticoin to Jewish people and my friends and family first,” Kanye West said. Alongside the announcement, he mentioned that he was trying to contact former Binance founder Changpeng Zhao as he seeks guidance on blockchain networks. The post sparked outrage on social media, unearthing a troubling trend that most people have ignored in the crypto industry for a long time. While Kanye West’s proposition might look like a standalone case, it is not isolated. In the past year, there has been an influx of racist and offensive tokens that have launched in the crypto market. The wave of these launches has spurred debates on the need for moderation in the decentralized space. Some of these tokens use racial slurs or offensive imagery to go viral and attract people who want to make money regardless of…

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Filed under: News - @ February 23, 2025 12:19 pm