Mamdani points out a $12 billion budget gap, while Eric Adams responds to "meme coin" criticism.

According to CoinWorld, New York City Mayor Zoran Mamdani announced that a budget shortfall of $12 billion is expected over the next two fiscal years, attributing the responsibility to former Mayor Eric Adams for his long-term underinvestment in basic public services. Adams, however, refuted this on social media, claiming he left behind more than $8 billion in reserves. This fiscal dispute stems from Adams' launch last month of the controversial "NYC" themed cryptocurrency, in which over 60% of the 4,300 traders suffered losses, with some losing more than $100,000.