US EditionEric Adams' NYC Token Crashes After Launch Amid Rug Pull Claims
NYC Token reached a $600 million market cap before crashing 81%, with $2.5 million liquidity withdrawn by a wallet linked to the deployer, fueling rug pull claims.
- On Monday, former New York City Mayor Eric Adams unveiled the NYC Token in Times Square, its market capitalization nearly $600 million before collapsing and wiping out nearly $500 million in value.
- Pitching charity aims, Adams said the NYC Token would fight antisemitism and anti-Americanism, supporting Combat Antisemitism Movement and Historically Black Colleges and Universities.
- On-Chain analysis by Bubblemaps showed wallet 9Ty4M added 80 million tokens as liquidity, removed $2.43 million in USDC, then added back $1.5 million, leaving $932,000 unaccounted.
- Investors suffered immediate losses, with one trader losing $473,500 and a wallet linked to Eric Adams allegedly pocketing nearly $1 million, while Adams has not commented.
- Delaware filings show C18 Digital incorporated on Dec. 30, 2025, while government ethics groups raised alarms over Adams's crypto ties and critics compared the case to LIBRA scandals.
72 Articles
72 Articles
Eric Adams crypto coin crashes soon after launch, sparking scam accusations
In one of his first ventures since leaving office, former New York Mayor Eric Adams launched a cryptocurrency token whose value suddenly cratered early Tuesday morning, sparking accusations that it was a scam. At a Times Square news conference Monday, Adams hawked the “NYC Token,” a meme coin that he claimed would be used to fight “anti-Americanism” and antisemitism, as well as “to teach our children how to embrace the blockchain technology.” Th…
Former NYC Mayor Eric Adams Faces 'Rug Pull' Allegations After Crypto Launch
Eric Adams, the former mayor of New York City, is under fire from the crypto community following allegations of a "rug pull" scheme involving a newly launched memecoin he promoted. The post Former NYC Mayor Eric Adams Faces ‘Rug Pull’ Allegations After Crypto Launch appeared first on Breitbart.
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