The already-bizarro world of meme coins is about to get a lot weirder - and much more toxic - should Ye (Kanye West) go through with his online pledge
Musician and entrepreneur Ye (formerly known as Kanye West) has announced plans to launch an anti-Semitic meme coin next week. The announcement was made on X, a platform known for hosting far-right content, and was quickly followed by the launch of several fake meme coins claiming to be the real deal.
Ye has since clarified that his SWASTICOIN will be launching in the coming week and has also hinted at launching a dedicated blockchain to complement his meme coin ecosystem.
This development comes amid a wave of meme coin rug pulls that have plagued the Solana blockchain in recent months. Meme coins, typically launched on decentralized exchanges, have seen a surge in popularity, but their unregulated nature and lack of intrinsic value have made them vulnerable to scams.
As a result of these setbacks, Ye may be considering launching his meme coin on the Binance blockchain instead. The Binance blockchain is known for its high liquidity and lower transaction fees compared to other blockchains.
However, it is still unclear whether Ye is serious about launching his own meme coin or is simply engaging in a publicity stunt. Stay tuned for updates on this developing story.
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