Eric Adams
Former mayor Eric Adams launches NYC Token cryptocurrency
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Former New York City Mayor Eric Adams announced the launch of the NYC Token, a new cryptocurrency aimed at funding efforts to combat antisemitism and anti-Americanism. Speaking in Times Square just days after leaving office, Adams described the venture as a way to teach children about blockchain technology and improve city operations. He plans to oversee a related nonprofit but declined to disclose his partners or full details.
Frank Carone, a longtime confidant of former New York City Mayor Eric Adams, is involved as a partner in the ex-mayor's new cryptocurrency venture, the NYC Token. The token has faced immediate backlash after a liquidity withdrawal caused its value to plummet, sparking rug pull accusations. Adams denies any wrongdoing, promising proceeds for education and anti-hate initiatives.
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Former New York City Mayor Eric Adams announced the NYC Token cryptocurrency in Times Square on Monday, promising to combat antisemitism and anti-Americanism. The token quickly reached a $600 million valuation but lost 75% of its value following a $2.5 million withdrawal. Experts question the launch's integrity, while Adams denies any wrongdoing.