Former Technoccult guest editor and EsoZone co-organizer Nick Pell drops some knowledge on Vice:

Hip-hop and punk were born at about the same time (the late 70s), in the same place (New York City), with the same rebellious and aggressive spirit; however, their fashion aesthetics have always clashed. Although there have been some instances of style cross-pollination—Public Enemy rocking Minor Threat gear, Lil Jon cloaking himself in Bad Brains apparel—rap stars have traditionally liked things loose-fitting, expensive, and flashy, while punks go for tight, ripped, and dirty.

Full Story: Vice: Anarchy in Hip Hop

(FWIW, Genesis Breyer P-Orridge says Lil Wayne was seen performing in a TOPI Psychic Cross hat)