Adams’ NYC Memecoin Crashes After Debut, Sparking Outcry

Eric Adams’ fondness for crypto — which during his one-term tenure as mayor of New York included the launch of the ill-fated ‘NYCCoin’ — is once again attracting controversy.

Less than two weeks after being succeeded by Zohran Mamdani, Adams re-emerged to promote a new city-inspired cryptoasset called NYC Token. A portion of the proceeds would go to fight antisemitism and educate children about the blockchain, Adams said during appearances in Times Square and on the Fox Business television channel. Adams encouraged the public to buy into the project.