New York City former Mayor Eric Adams launches "NYC Token," which quickly surged and then retraced after the initial spike

BlockBeats News, January 13th, according to Fortune, former New York City mayor Eric Adams announced the launch of a cryptocurrency called "NYC Token" after leaving office, stating that the project aims to raise funds to combat anti-Semitism, anti-American sentiment, and promote children's blockchain education. Adams introduced the token to the public in Times Square, but did not disclose the partners, issuance date, fund usage, or specific mechanism, only stating that ordinary New Yorkers can participate in the investment.

During his tenure, Adams strongly supported the cryptocurrency industry but was also highly controversial due to ethical and conflict of interest issues. The new mayor, Zohran Mamdani, has made it clear that he will not purchase the token.

According to information from the Eric Adams X platform, the NYC Token has reportedly been launched on the Solana network about 1 hour ago, with its market value briefly soaring to $200 million before quickly dropping back to $93.98 million.

BlockBeats reminds users that the authenticity of the token is yet to be confirmed, celebrity coins are highly volatile, and there is a high level of uncertainty, so users should invest with caution.