Solana, the cryptocurrency platform promoted by FTX scammer Sam Bankman Freed to prison guards as a hot investment, is rife with racist and anti-Semitic coins.
Sleazy crypto entrepreneurs looking to cash in during Bitcoin’s massive rebound are using Solana’s blockchain platform to collect large amounts of money with N-word labels and swastika trading symbols. is minting cryptographic tokens.
On March 22nd, the two top trending tokens on the Solana blockchain were “Jews did 9/11” and Adolf Hitler-themed tokens. mashable report.
On Monday, “Solana Pepe,” a symbol of the alt-right movement, entered the top 30.
Anatoly Yakovenko, co-founder of Solana Labs, condemned the creators of racist and anti-Semitic meme coins in one word:
“Kill the anti-Semitic racist incels” Yakovenko Posted With X.
Yet Solana – says 20,000 tokens are created every day crypto slate – announced that it has no plans to denounce or remove the racist meme coin, and as of Monday, the token remains on the blockchain platform. Yakovenko did not respond to requests for comment.
Bitcoin’s value hit a new all-time high in March, soaring above $70,000, a sign of a crypto revival two years after the market crash bankrupted FTX and other major crypto companies. I showed you.
Memecoins (cryptocurrencies based on online jokes) are also rapidly surging in value, especially those deployed on the Solana blockchain, according to the report. mashable. However, for meme coins to become popular, they must first spread.
The torrent of racist tokens has sparked an online debate about whether hate speech can or should be mitigated on decentralized blockchain platforms like Solana.
“This type of bottom meme coin is what happens when you have an open, free, decentralized financial system…this is ‘free speech’ in action.” Posted Cryptocurrency influencer AutismCapital on X.
“Allowing kids to create racist Ponzi and have a laugh about it with their friends. This is not an indictment of Solana or an open financial system. This is what we’re saying and this is It comes with territory, it’s a result of inclusion. We have to learn to accept it.”
Solana has gained attention in the cryptocurrency community due to its low transaction costs compared to other blockchains.
Traders expressed concern that this trend would bleed Solana’s reputation with mainstream audiences.
“The future of finance” with irony tweeted One user posted an image capture of a token named “Kate with Cancer” and a photo of Adolf Hitler with the phrase “I was right” among other obscure tokens being traded. Posted on.
Blockchain users seek to counter racist tokens with ‘Stop Racism on Solana’ asset on online crypto public coin page rising nearly 19,000% in value in just 24 hours report.
Previously, meme coins were known to the public as tokens containing cute animal memes, with Dogecoin being the largest.
Other major crypto token listing websites were also grappling with the proliferation of controversial meme coins.
One of them, decentralized exchange analytics platform DEX Screener, announced that it would be reviewing its “token profile moderation policy in the coming days.”
“We will not be gatekeepers to what happens on-chain, but we are not here to spread hate,” the company said. Posted Last week at X.
However, the racist tokens created on the Solana blockchain were still on the DEX Screener as of Monday.
