Former New York City Mayor Eric Adams launches "NYC Token," which quickly surged and then fell back after opening.

ChainCatcher News, according to Fortune, former New York City Mayor Eric Adams announced the launch of a cryptocurrency called “NYC Token” after leaving office, claiming that the project aims to raise funds to combat anti-Semitism, anti-American sentiments, and promote blockchain education for children. Adams introduced the token to the public at Times Square but did not disclose partners, issuance date, fund usage, or specific mechanisms, only stating that ordinary New Yorkers can participate in investing.

During his tenure, Adams strongly supported the crypto industry but also faced controversy over moral and conflicts of interest issues. The new mayor, Zohran Mamdani, has explicitly stated 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 1 hour ago. Its market cap briefly surged to $200 million before quickly falling back, currently reported at $93.98 million.

ChainCatcher reminds users that the authenticity of this token is yet to be confirmed, and celebrity tokens are highly volatile with strong uncertainty. Users should exercise caution when investing.