Former NYC Mayor Eric Adams Unveils Mysterious NYC Token Crypto Venture in Times Square Spectacle
Times Square, New York – Barely two weeks after leaving office, former New York City Mayor Eric Adams made a splashy return to the public eye on Monday, announcing the launch of “NYC Token,” a new cryptocurrency aimed at tackling antisemitism, anti-Americanism, and promoting blockchain education for children. Donning a branded ballcap and posing in front of a massive banner held by four assistants, Adams pitched the venture amid the neon glow of Times Square, reaffirming his long-standing enthusiasm for digital assets.[1][2][3]
Adams, who exited City Hall following a tumultuous tenure marked by legal challenges including a dismissed fraud case urged by the incoming Trump administration, wasted no time pivoting to his post-mayoral pursuits. The announcement came shortly after a brief international trip to Dubai and the Democratic Republic of the Congo, signaling his continued global networking in crypto circles.[1]
A Cryptic Pitch with Big Promises
“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,” Adams declared to a small crowd of about a dozen reporters and camera operators.[1][2][3]
The former mayor evoked his pioneering crypto moves during his tenure, recalling how he converted his first three paychecks into cryptocurrency in 2022 – a decision that drew ridicule at the time but which he now touts as prescient. “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.[1]
Adams’ crypto affinity dates back to his time in office. In his final days, he teased post-political plans to leverage cryptocurrency against violence, antisemitism, and for youth education. He spoke at the Bitcoin 2025 conference, promising Bitcoin-backed bonds for the city, and in October 2025 established the NYC Office of Digital Assets to streamline blockchain initiatives within city bureaucracy – though that office’s future under new leadership remains uncertain.[2][4]
Details Scarce: Website Lags Behind Hype
Despite the fanfare, specifics on NYC Token remain elusive. Adams claimed revenue would fund a nonprofit he plans to run, though he insisted he is not taking a salary “at this time,” leaving the door open for future compensation. He named a couple of unnamed “creators” involved but denied any partnership with crypto investor Brock Pierce.[1]
Reporters were directed to a dedicated website for more information, including team details, a whitepaper, and purchase links. However, as of Monday afternoon, the site offered little clarity: it featured only a simplistic logo with the slogan “Greatest city in the world. Creating the greatest token,” alongside non-functional buttons for buying the token or reading the whitepaper. The page boldly claimed a $2.5 million market cap, one billion tokens in supply, and 10,000 holders – figures that raised eyebrows given the project’s embryonic stage.[1][2][3]
“We want to make sure everyday New Yorkers can invest and create an atmosphere they want to see in their city,” Adams said, emphasizing accessibility. Instructions for swapping Ethereum for NYC Token were provided, but no concrete launch date, funding mechanisms like trading fees or equity, or precise allocation plans for combating antisemitism were disclosed.[2]
Context of Adams’ Crypto Journey
Adams’ embrace of cryptocurrency was not always smooth sailing. His initial zeal in 2022 coincided with a crypto winter triggered by the FTX collapse, prompting a period of relative silence until a Gracie Mansion crypto summit in May 2025 reignited his advocacy. The NYC Office of Digital Assets, launched via Executive Order 57, aimed to cut through regulatory red tape like the state’s stringent BitLicense, positioning the city as a blockchain hub without overriding state or federal laws.[4]
Critics have long viewed Adams’ crypto push as more showmanship than substance, especially amid his administration’s scandals. His reelection bid collapsed under the weight of investigations, though federal charges were dropped at the Trump administration’s behest, allowing this pivot.[3]
Reactions and Broader Implications
Initial reactions were mixed. Politico described the launch as “exactly what you thought it might be,” capturing Adams’ predictable crypto fixation.[3] Fortune noted the absence of partners, timelines, and fund usage details, underscoring the venture’s opacity.[2]
For New York’s crypto community, Adams’ move could signal continued momentum, building on his mayoral efforts to thaw the state’s “coldest market.” However, with non-functional tech and vague economics, skeptics question whether NYC Token will deliver on its lofty goals or join the ranks of hyped-but-unrealized projects.
As Adams grinned for cameras – “Aw, I missed you guys” – he positioned the token as a tool to “address many of the issues you’re seeing.” Whether it evolves from cryptic announcement to credible initiative will depend on forthcoming transparency and execution.[3]
The crypto world watches closely. In a city that never sleeps, Adams’ token gamble could redefine his legacy – or fade into digital obscurity.
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