Former New York City Mayor Eric Adams launches "NYC Token," which surged and then quickly retreated after its debut.

According to ChainCatcher, as reported by Fortune, former New York City Mayor Eric Adams has announced the launch of a cryptocurrency called "NYC Token" after leaving office. He stated that the project aims to raise funds to combat anti-Semitism, anti-American sentiment, and to promote blockchain education for children. Adams introduced the token in Times Square but did not disclose partners, issuance date, fund usage, or specific mechanisms, only mentioning that ordinary New Yorkers can participate in the investment.

During his tenure, Adams was a strong supporter of the crypto industry, but he was also embroiled in controversies over ethics and conflicts of interest. The new mayor, Zohran Mamdani, has made it clear that he will not purchase the token.

According to information from Eric Adams' X platform, NYC Token appears to have been launched on the Solana network about an hour ago. Its market capitalization briefly surged to 200 millions USD before quickly falling back, and is now reported at 93.98 millions USD.