Former NYC Mayor Eric Adams Drops 'NYC Token' After Election Loss

Update: Aaaand just 30 minutes after launching the coin, he rugged.

Eric Adams – the recently ousted mayor of New York City – made his first public appearance since leaving office today in Times Square to announce the launch of "NYC Token" a cryptocurrency on Solana that he says is designed to combat antisemitism.

What's the Scoop?

• Token Launch: Eric Adams used his first post-mayoral public address to promote the launch of NYC Token. Although details are light at this time, token revenues will be distributed to an unnamed nonprofit, which will then fund groups that combat antisemitism and anti-Americanism. Historically black colleges and universities (HBCUs) will also be involved the plan.
• Potential Utility: According to Adams, NYC Token could deliver benefits for its namesake city. "By using this New York City token, this New York City token, we’re going to continue to invest in making our city a safer city."
• No Deal Details: While Adams said he was not taking a "salary" from the project, he doesn't have the most sterling reputation for disclosing the details of deals. Adams was charged by federal prosecutors with taking bribes and illegal foreign-linked campaign perks in exchange for political favors, a case he denied before Trump personally got involved and reportedly forced the DOJ to drop the case.