Ex-NYC Mayor Adams Faces Pump-and-Dump Allegations Over NYC Token
TL;DR Summary
Former New York City Mayor Eric Adams promoted a Solana-based NYC Token intended to fund a non-profit and fight antisemitism; the token saw a rapid price rise and liquidation of about $2.5 million to USDC within an hour, leading to accusations of a pump-and-dump/rug pull, a pattern seen with celebrity-endorsed meme coins; Adams had previously backed crypto projects like NYC Coin during his tenure.
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- Eric Adams’ Next Gig: Hawking Crypto With Undisclosed Backers THE CITY - NYC News
- Former New York City Mayor Rug Pulls Community? Eric Adams' NYC Token Plunges 81% Yahoo Finance
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