The world’s second largest sportswear manufacturer, Adidas, has cut ties with Kanye West in response to his recent antisemitic remarks.

Adidas, a company with its own ties to antisemitism in the past, released a statement on Tuesday condemning comments made by the Chicago-raised West, or “Ye,” as he now goes by.

“Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness,” Adidas said in Tuesday’s statement.

Adidas’ partnership with Ye’s sneaker and clothing company, Yeezy, was estimated to be worth billions, according to Bloomberg. 

Adidas is the latest of affiliated groups to recently sever their connection to Ye. A planned documentary focused on Ye was shelved by production company MRC on Monday. Balenciaga, JPMorganChase and even the rapper’s own talent agency CAA have all parted ways with Ye over the past 8 days. 

Earlier this month, both Twitter and Instagram suspended the rapper due to his antisemitic posts which both companies said violate their policies. Last week, images of a well-known hate group broadcasting support for the rapper’s antisemitic messages in Los Angeles sprung up on social media. This prompted worry from residents and local officials that Ye’s comments have provoked further hate speech. 

“After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies,” Adidas said on Tuesday.  

After Tuesday’s announcement, shares of Adidas traded down more than 7%, according to the New York Times. Adidas stock had already reportedly fallen by more than 20% in the past month due to Ye’s recent behavior.