Former New York City Mayor launches NYC Token, surges and then quickly pulls back after opening

Foresight News reported that former New York City Mayor Eric Adams has launched a token called NYC Token. The project was co-founded by Eric Adams and two other members, aiming to fund nonprofit organizations through the proceeds generated by the token to combat anti-Semitism and anti-Americanism. Eric Adams stated that the token will also be used to educate students in mastering blockchain technology. Currently, the project's website only displays a slogan and a link to its X platform account. The current New York City Mayor, Zohran Mamdani, stated that he will not purchase the token.

According to GMGN market data, NYC's market capitalization is currently reported at 103 millions USD, with the market cap having dropped significantly.