Eric Adams’ NYC Token Launch: Crypto Venture Crashes 80% Amid Vague Promises and Broken Website
New York City – Former New York City Mayor Eric Adams, known for his pro-cryptocurrency stance, launched a new digital token called NYC Token on Monday, promising to fund anti-antisemitism programs, youth blockchain education, and scholarships for underserved communities. However, the token’s value plummeted over 80% shortly after launch, raising questions about its legitimacy and transparency.[1][2][4]
Adams, who left office on December 31, 2025, after a tumultuous tenure marked by legal troubles including a dismissed fraud case, held a press conference in Times Square. Wearing a cap emblazoned with the NYC Token logo, he declared the project a “movement” to make New York the “crypto capital of the world.” “We’re about to change the game. This thing is about to take off like crazy,” Adams said in a promotional video shot from the back of a yellow cab.[1][3][5]
Ambitious Promises Meet Technical Glitches
The NYC Token website touts the asset as “lightning fast,” “ultra secure” with “military-grade encryption,” and “community-driven.” It claims a total supply of 1 billion tokens and an initial market cap of $2.5 million. Users are instructed to buy Ethereum via a wallet like MetaMask, then trade on Uniswap using a specific contract address.[1]
Despite the hype, the site suffered from broken buttons, including those for buying tokens and reading the whitepaper, as of Monday. Crucially, it provides no concrete details on how funds will support the promised initiatives, such as awareness programs against antisemitism and anti-Americanism or scholarships for historically Black colleges and universities.[1][2][3]
Dramatic Price Volatility Sparks Manipulation Concerns
Launched on the Solana blockchain, NYC Token experienced wild swings. Data from GeckoTerminal shows it rocketed to a $730 million valuation at peak before crashing to $90 million within an hour, later stabilizing around $110-111 million. The project attributed the drop to “overwhelming support” requiring liquidity rebalancing by partners.[2][4]
Crypto observers flagged suspicious liquidity pool activity, with allegations of manipulation. Only 80 million tokens were tradeable at launch, with plans to increase to 300 million. Adams described it as a “commemorative asset,” but specifics on partnerships, release timelines, or fund allocation remain elusive.[4]
“Given the overwhelming support and demand for the token at launch, our partners had to rebalance the liquidity. We’re in it for the long haul!”
– NYC Token official X post, January 13, 2026[2]
Adams’ Crypto Legacy and Post-Mayoral Pivot
Adams earned the nickname “Bitcoin Mayor” by taking his first three paychecks in cryptocurrency and pushing initiatives like the city’s Office of Digital Assets. During his term, he hosted a crypto summit at Gracie Mansion and spoke at Bitcoin 2025, promising Bitcoin-backed bonds.[3][4]
His enthusiasm waned amid the 2022 crypto winter following the FTX collapse but revived in 2025. Now out of office, succeeded by Zohran Mamdani—who restructured the digital assets office—Adams positions NYC Token as a private venture. He cited examples like Walmart’s use of IBM blockchain for supply chains and recent trips to Dubai and Congo as inspirations.[1][5]
At the Times Square event, billed partly as addressing rising antisemitism, no Jewish community leaders appeared despite advance press releases promising their presence. Adams deflected detailed questions, directing reporters to the glitchy website.[3][5]
Questions Linger Over Viability and Ethics
Critics question the token’s real-world utility. Adams claimed blockchain can “improve government,” but offered no roadmap for fund deployment. He stated he won’t take a salary initially but may revisit that decision.[1][3]
| Metric | Value |
|---|---|
| Total Supply | 1 Billion Tokens |
| Initial Tradeable | 80 Million Tokens |
| Peak Valuation | $730 Million |
| Post-Crash Valuation | ~$110 Million |
The launch caps Adams’ transition from public servant to crypto entrepreneur, echoing his mayoral pledges to combat violence, educate youth, and fight hate via digital assets. Whether NYC Token delivers on its vision or joins the ranks of volatile meme coins remains to be seen amid ongoing scrutiny.[3][4]
As the crypto market watches, Adams’ next act underscores the intersection of politics, tech, and finance in post-office pursuits. Investors are advised to conduct due diligence given the project’s early red flags.