Eric Adams’ NYC Token crashes as $2.5M liquidity drained in alleged rug pull
TL;DR Summary
The NYC Token, backed by former NYC Mayor Eric Adams, peaked near a $580 million market cap but collapsed to about $130 million after a suspected rug pull; blockchain analytics flagged suspicious activity and a deployer wallet withdrew roughly $2.5 million in liquidity at the peak, with some funds not returned.
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- Eric Adams’ next act is exactly what you thought it might be Politico
- Investors cry foul over former NYC Mayor Eric Adams’s crypto launch: ‘Such an obvious rug’ Fortune
- Eric Adams Finally Has His Own Cryptocurrency, NYC Coin New York Magazine
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