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Cryptocurrency 19 hours ago (Oct 17, 2022 07:30AM ET)
© Reuters. Kanye West Rocks Bitcoin (BTC) Founder Satoshi Hat, but Gets Kicked out by JP Morgan
Controversial rapper & producer Ye, formerly known as Kanye West, was spotted outside a branch of JP Morgan wearing a Satoshi Nakamoto hat. The Hip Hop artist has officially cut ties with JP Morgan, which gave Yeezy LLC and Ye until November 21st, 2022 to transfer the account’s funds elsewhere.
Kanye West rocking Satoshi Nakamoto outfit after being cancelled by JP Morgan Bank. #Bitcoin pic.twitter.com/3XdPvVXoOR
— Grey Jabesi (@greybtc) October 17, 2022
$140 Million in Question Amid Antisemitism Controversy
The event comes just days after Ye’s rampage on Twitter, in which he made a series of antisemitic comments, threatening that he would “go Death Con 3 On Jewish People”. The popular American rapper was urged to reconsider his use of the platform by users, and was subsequently banned from Twitter and Instagram simultaneously.
The hate speech expressed by the rapper received strong backlash, but was not the first such incident. Ye had previously claimed that Sean Combs, better known as “P. Diddy”, is “controlled by the Jews”. Diddy, the renowned Hip Hop mogul known for his signature dance moves in early 00’s Hip Hop music videos, refused to comment on the situation.
On the other hand, social influencer and crypto enthusiast David Gokhshtein suggested that Ye should consider storing his $140 million in (BTC).
Kanye West should put $140M into #Bitcoin.
— David Gokhshtein (@davidgokhshtein) October 17, 2022
Ye Silenced on Fox News
As a result of the tirade, broadcaster Fox News made the decision to scrap its planned feature on Ye. As if that was not enough, Ye later went on talk show “The Shop” with Lebron James, only to later be called out for “promoting extremely dangerous stereotypes”. On the other side of the coin, Ye expressed sympathy for the everyday person’s struggles with greedy centralized banks in a recent interview, asking the rhetorical question: “If JP Morgan Chase (NYSE:) is treating me like that, how are they treating the rest of y’all?”.
Kanye West speaks out after getting debanked: “I put $140 million into JP Morgan and they treated me like sh*t. So if JP Morgan Chase is treating me like that, how are they treating the rest of y’all?” pic.twitter.com/YYuMgqfqT5
— Benny Johnson (@bennyjohnson) October 16, 2022
Critical Recognition Points for Bitcoin (BTC)
In other celebrity adoption news, investor Michael Saylor recently went on record to reassure investors that “Bitcoin is everlasting“. While the identity of the leading digital asset’s founder remains unconfirmed, with at least 5 plausible justifiable candidates for the claim, today marks three years since “Satoshi” was entered to the Oxford’s English Dictionary, and is defined as “the smallest monetary unit in the Bitcoin digital payment system”.
3 years ago today, the smallest part of a #Bitcoin enters the largest English dictionary pic.twitter.com/uD12JPNNek
— RIZZO (@pete_rizzo_) October 15, 2022
Public acceptance of Bitcoin (BTC) is being demonstrated around the world, with prominent examples of its adoption seen in McDonald’s restaurants in Lugano, Switzerland, El Salvador’s Bitcoin City, and its use on public transportation in South Korea. Nonetheless, the prolonged crypto winter has taken its toll on the speed of retail adoption, as made evident in the ‘Crypto Fear & Greed Index‘, which shows at 20 on the scale at the time of writing, indicating a sentiment of “fear“ over the last 24 hours.
On the Flipside
- JP Morgan’s booting of Ye from its list of clientele serves a perfect example of the ambiguous treatment of users by central banking institutions.
Why You Should Care
With best-selling artists of the music industry showing support Bitcoin (BTC), the likelihood of its inclusion in pop culture is on the rise.
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