Eric Adams Launches Mysterious NYC Token Venture Amid Crypto Enthusiasm and Transparency Questions
New York City – Less than two weeks after leaving office, former Mayor Eric Adams has pivoted from public service to cryptocurrency promotion, unveiling the “NYC Token” in a flashy Times Square press conference on Monday. The announcement, marked by a large banner, branded ballcaps, and Adams’ familiar crypto boosterism, promises to fund initiatives against antisemitism and anti-Americanism while educating youth on blockchain technology. However, key details about backers, revenue streams, and operations remain undisclosed, raising eyebrows among observers.
Adams, who famously converted his first three mayoral paychecks into Bitcoin in 2022, has long championed cryptocurrency as a tool for governance innovation. During his tenure, he established an Office of Digital Assets and Blockchain Technology and explored pilots like blockchain-based asbestos certification for the Department of Environmental Protection. “Remember when I took my first three paychecks in cryptocurrency? Everybody said, ‘What the heck is he doing?’ They laughed at me, but I’m laughing now because it was a good, smart investment,” Adams quipped at the event.[1][2]
The NYC Token website touts the project as inspired by “New York’s resilience, diversity and ambition to become the crypto capital of the world,” echoing Adams’ vision. It claims a market cap of $2.5 million with 1 billion tokens available, 10,000 holders, and simple purchasing via wallets like MetaMask, Ethereum, and the Uniswap exchange. Adams outlined three core uses for generated revenue: combating antisemitism and anti-Americanism, blockchain education for children, and scholarships for underserved communities.[2][3]
Transparency Gaps Spark Skepticism
Despite the hype, the venture’s opacity has drawn criticism. Adams did not disclose partners, the token’s launch date, or precise revenue mechanisms—such as trading fees or equity stakes. He mentioned running a nonprofit tied to the token and taking no salary “at this time,” leaving open the possibility of future compensation. The website’s “buy NYC token” and “read whitepaper” buttons were non-functional as of Monday, and no team details beyond Adams were listed.[3][4]
“One focus we have on this New York City coin is to use the revenue generated to address anti-American, antisemitism, to teach our children how to embrace blockchain technology, how to run cities correctly, as Walmart is using blockchains to deal with their food chain and transparency.”
– Eric Adams, Times Square press conference[1]
“It’s all on the website,” Adams told reporters when pressed on details, but the site offered little beyond a logo and slogan: “Greatest city in the world. Creating the greatest token.”[4] This comes after Adams’ tumultuous exit from City Hall, marked by a failed reelection bid, corruption charges dismissed at the Trump administration’s urging, and the revocation of his executive orders by incoming Mayor Zohran Mamdani.[2]
From Mayoral Crypto Push to Private Venture
Adams’ crypto affinity dates back to his campaign, funded partly by industry donors, including a private jet ride to Puerto Rico’s Somos conference courtesy of a crypto billionaire. His enthusiasm waned during the 2022 crypto crash following FTX’s collapse but revived in 2025 with a Gracie Mansion summit and Bitcoin 2025 conference remarks on Bitcoin-backed city bonds.[3]
In a Fox Business interview, Adams argued blockchain could “improve government, not fight against government,” positioning NYC Token as a continuation of his vision to make New York the “crypto capital of the world.”[2] He returned from trips to Dubai and the Democratic Republic of Congo just before the launch, though no connections to those visits were specified.[1]
| Feature | Details |
|---|---|
| Total Supply | 1 billion tokens |
| Market Cap (Claimed) | $2.5 million |
| Holders (Claimed) | 10,000 |
| Purchase Method | MetaMask wallet, Ethereum via Uniswap |
| Intended Uses | Antisemitism/anti-Americanism awareness, blockchain education, scholarships |
Political Context and Future Implications
Adams’ move aligns with his post-mayoral pivot, teased in his final days amid fraud allegations. Critics question how a speculative token—whose value hinges on trading—will reliably fund social initiatives, especially without clear governance. Supporters see it as entrepreneurial innovation from a leader unafraid to embrace emerging tech.
As the crypto market fluctuates, NYC Token’s success remains speculative. Adams grinned amid reporters in Times Square, saying, “Aw, I missed you guys,” before pitching the project as a solution to urban challenges. Whether it delivers on promises or joins the ranks of vaporware tokens is the next chapter in the former mayor’s crypto saga.
This article synthesizes reports from multiple outlets covering the January 12, 2026, announcement. Developments will be updated as more information emerges.