Perhaps just one way of fascilitating payoffs. Much like the ol’ “book deals” of decades past.
— Bruce (@Doomsday10tac2) January 13, 2026
Former New York City Mayor Eric Adams is facing a lot of heat today after his high-profile launch of a new cryptocurrency, dubbed the NYC Token, crashed within hours of launching. Adams launched the token on Monday, but the coin lost 80% of its value within a couple hours.
Adams unveiled the Solana-based token at a Times Square event on Monday, promoting it as a tool to generate funding for social causes including the fight against antisemitism and “anti-Americanism,” as well as blockchain education and student scholarships.
Eric Adams told Fox Business that proceeds would support nonprofits like Combat Antisemitism and historically Black colleges and universities without raising taxes.
The announcement came less than two weeks after Eric Adams left office as mayor, where he had long championed crypto adoption — including converting his first mayoral paychecks into Bitcoin and other crypto and signing an executive order to promote digital assets.