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Former NYC Mayor Eric Adams Launches NYC Token Amid Controversy

Former NYC Mayor Eric Adams Launches NYC Token Amid Controversy

Author:

Global Cryptocurrency

Published:

2026-01-13 19:00:01

15

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BTCCSquare news:

Former New York City Mayor Eric Adams unveiled NYC Token ($NYC) on January 12th, positioning it as a vehicle to fund antisemitism education, blockchain literacy for youth, and scholarships in underserved communities. The initiative aims to combat what Adams described as rising 'anti-Americanism' without raising taxes.

Investors quickly accused the project of being a rugpull after liquidity evaporated within 30 minutes of launch. Analytics platform Bubblemaps identified a deployer-linked wallet cashing out $2.5 million as the token collapsed 80% from its $500 million market cap peak.

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