Eric Adams has made his first major public move since leaving the New York City mayor’s office, launching a New York City-themed crypto token aimed at combating anti-Semitism and “anti-Americanism.”
In a post on X on Monday, Adams announced the launch of the NYC token, along with a link to a website that also aims to inspire the next wave of innovation in New York City.
“I always say there are two types of Americans: those who live in New York and those who want to live in New York,” Adams said in the video, adding: “We’re trying to change things.”
“If you can’t go to New York, we’ll bring you New York,” Adams said, suggesting New York-themed tokens are poised to “take off like crazy.”
I’m proud to launch @buynyctokena new token built to combat the rapid spread of anti-Semitism and anti-Americanism across this country and now in New York City.
Live streaming at https://t.co/zowY9Ri3aK pic.twitter.com/qBMzV88Tmj
— Eric Adams (@ericadamsfornyc) January 12, 2026
In an interview with FOX Business, Adams explained that proceeds from the NYC token will fund nonprofit organizations that raise awareness about anti-Semitism and anti-Americanism through educational programs. It will also be used to fund blockchain and crypto education and support scholarships for New York City students living in underserved communities.
“A wave of anti-Americanism is not just hitting Ivy League college campuses, but also in urban areas. So the goal is how to leverage blockchain technology with this token, and the significant amount of money raised from this token will combat these efforts.”
NYC token plummets immediately after launch
However, the launch of Adam’s new meme coin was fraught with difficulties.
According to DEXScreener data, the Solana-based token fell from $0.47 to $0.10 in about 30 minutes after its launch, reducing its market cap from nearly $500 million to less than $110 million at press time.
There are also unconfirmed accusations that the team behind the token intentionally removed liquidity, with crypto analyst Loon citing blockchain data that suggests investors were defrauded out of more than $3.4 million.
Cointelegraph reached out to Adams for comment, but he did not immediately respond.
Questions remain about the future of the NYC token
The NYC Token website has little information about the direction of the project. The website’s “Buy New York Token” and “Read White Paper” buttons are also currently not working.
However, according to information on Tokenomics, 40% of NYC tokens will be allocated to community rewards, 25% to liquidity, 15% to development, and the remaining 20% will be split between marketing and the team.
The website also hints that Adams may pursue more than a token launch, stating, “We are building a decentralized financial ecosystem as ambitious as the city itself.”
New York City has changed direction.
Zoran Mamdani was officially sworn in as Adams’ successor on January 1, following Mamdani’s victory over cryptocurrency advocate and former New York Governor Andrew Cuomo on November 4.
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Adams was one of the most pro-crypto mayors in the US when he led the mayor’s office, and was well known for converting a portion of his early salary into crypto.
But Mamdani has taken a more anti-capitalist stance, which has drawn criticism from many in the crypto industry, with some warning that his leadership could drive tech talent out of town.
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