# Eric Adams Related Articles

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Former New York Mayor Involved in Rug Pull Allegations: On-Chain Investigation into NYC Token

Former New York City Mayor Eric Adams faces allegations of a "rug pull" following the launch of the NYC token. Shortly after its debut on January 13, the token’s value plummeted over 80% when the liquidity pool creator address (9Ty4M4t9MZArhJBKFWbYrzeqdMf2Ua5eHWSRW3LXKyGt) removed approximately 2.377 million USDC just 30 minutes post-launch. This caused the token’s market cap to crash from a high of $600 million to under $100 million. Beosin’s on-chain analysis traced the initial funding to a Mayan bridge and Kraken. After the crash, the same address began making small purchases of NYC tokens, but the price only recovered to around $0.133. The address still holds 1.332 million USDC, resulting in an estimated profit of $330,000. Adams denied personal profit or involvement in removing funds. However, the analysis confirms liquidity manipulation, with only about $1 million returned to liquidity after $2.37 million was withdrawn. This incident highlights the significant risks associated with celebrity-backed tokens.

marsbit01/15 10:38

Former New York Mayor Involved in Rug Pull Allegations: On-Chain Investigation into NYC Token

marsbit01/15 10:38

Out Of Office, Into Crypto: Ex-NYC Mayor Debuts ‘NYC Token’ Memecoin

Former New York City Mayor Eric Adams launched the "NYC Token" memecoin on the Solana blockchain on January 12, 2026, promoting it as a tool to support education and combat antisemitism and anti-American sentiment. The token briefly reached an implied market cap between $580 million and $730 million before its price dropped by roughly 80%, falling from $0.46 to around $0.10. Critics raised concerns about insufficient transparency, missing documentation, and sudden liquidity withdrawals, which led to accusations of a potential rug pull. Adams, known for his pro-crypto stance as mayor, faced scrutiny for using his public profile to promote a privately issued token, while his successor declined to endorse the project.

bitcoinist01/14 00:01

Out Of Office, Into Crypto: Ex-NYC Mayor Debuts ‘NYC Token’ Memecoin

bitcoinist01/14 00:01

From Times Square to zero bids – Inside NYC token’s 30-minute collapse

Eric Adams' ambitious plan to establish New York City as a digital asset hub faced a major setback with the catastrophic failure of the $NYC token. Minutes after its launch at a Times Square press conference, on-chain analysts identified suspicious activity. A wallet linked to the deployer executed a high-speed "rug pull," extracting $3.4 million in USDC at the token's peak price. This maneuver created a $932,000 liquidity gap and caused the token to collapse 80% within thirty minutes, leaving retail investors with significant losses. The crypto community reacted with anger and resignation, labeling it a classic scam. Unlike community-driven political tokens like TRUMP, the $NYC incident sets a troubling precedent, demonstrating how civic fundraising on decentralized exchanges can quickly turn exploitative. Despite a booming memecoin market, this event serves as a stark reminder of the sector's volatility and risks, eroding trust in both the token and broader political crypto ventures.

ambcrypto01/13 13:47

From Times Square to zero bids – Inside NYC token’s 30-minute collapse

ambcrypto01/13 13:47

Former New York City Mayor Rug Pulls Community? Eric Adams’ NYC Token Plunges 81%

Former New York City Mayor Eric Adams launched the "NYC Token" on January 12, promoting it as a crypto initiative to fund social causes like combating antisemitism and supporting blockchain education without raising taxes. The token initially surged to a market cap of nearly $600 million shortly after launch. However, it crashed by approximately 81% about 30 minutes later, losing around $500 million in value. On-chain data suggests a wallet linked to the token's deployer removed over $2 million in liquidity, leading to accusations of a "rug pull." This controversy adds to Adams' history of crypto-related scrutiny, including past failures to disclose crypto holdings and using a city-funded trip for political fundraising.

ccn.com01/13 08:18

Former New York City Mayor Rug Pulls Community? Eric Adams’ NYC Token Plunges 81%

ccn.com01/13 08:18

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