Eric Adams has made his first major post-mayoral move by unveiling a New York City-themed cryptocurrency designed to fight antisemitism and “anti-Americanism.”
The launch of the NYC Token aims to bring attention to these growing issues, while also promoting the Big Apple’s innovation spirit.
In a video posted on X (formerly Twitter), Adams proudly announced the project, stating, “I always say there are two types of Americans—those who live in New York and those who wish they could.”
He went on to promise that the token would “take off like crazy,” claiming it would bring New York to people around the world, even if they couldn’t physically visit the city.
Fighting Hatred Through Blockchain Technology
The NYC Token is designed not just as a digital asset but as a vehicle for social change.
According to Adams, the proceeds from the token will fund nonprofit organizations that work to combat antisemitism and anti-American sentiment.
The funds will also support educational programs about blockchain and crypto, and offer scholarships to students in underserved NYC communities.
“We’re seeing a wave of anti-Americanism sweeping across Ivy League campuses and cities,” Adams told FOX Business.
“The goal is to use blockchain technology to fight these negative movements.
A substantial amount of the money raised will go towards these initiatives.”
Rocky Start for NYC Token: A Slippery Launch
Despite the bold promises, the NYC Token experienced a rough start.
After launching, the token’s price quickly plummeted, dropping from $0.47 to $0.10 within 30 minutes.
The token’s market cap, which had started at nearly $500 million, also saw a dramatic decline, falling to less than $110 million by the time of writing.
Adding to the confusion, there are unverified claims that the team behind the token may have intentionally removed liquidity.
Crypto analyst Rune suggested that blockchain data pointed to a scam that may have swindled investors out of more than $3.4 million.
Cointelegraph reached out to Adams for clarification but had not received an immediate response at the time of publication.
What’s Next for the NYC Token?
While Adams’ vision for the NYC Token sounds ambitious, there are still a lot of unanswered questions.
The project’s website offers limited details, and crucial features like the “Buy NYC Token” and “Read Whitepaper” buttons currently don’t function.
The website does provide some insight into the tokenomics, though, stating that 40% of the tokens are allocated for community rewards, 25% for liquidity, 15% for development, and the remaining 20% for marketing and team purposes.
The website also hints at something bigger in the works, stating that the token is part of a larger goal to create a decentralized financial ecosystem “as ambitious as the city itself.”
A Shift in NYC’s Political Landscape
Adams, who was New York City’s mayor for a significant time, was known for being one of the most crypto-friendly leaders in the U.S.
He famously converted some of his own paychecks into cryptocurrency and pushed for New York to become a hub for digital assets.
However, with Adams replaced by Zohran Mamdani on January 1, the city’s direction may be shifting.
Mamdani, who defeated former governor Andrew Cuomo in the November 2025 election, has taken a more anti-capitalist stance.
His views have raised concerns within the crypto community, with some critics fearing that his leadership might push tech talent out of the city.
The Road Ahead: Can NYC Token Bounce Back?
While Adams’ launch of the NYC Token might have stumbled out of the gate, it’s clear that the former mayor is not giving up on his crypto ambitions.
His goals to fight hate speech and promote financial education through blockchain are commendable, but the rocky start has raised concerns about the project’s viability.
As the NYC Token continues to develop, its future remains uncertain.
Will it gain the traction Adams anticipates, or will it fade into the background like many other failed crypto ventures? Time will tell, but the launch of the NYC Token marks a significant step in the ongoing battle over New York City’s future as both a global tech hub and a political battleground.
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