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Rug Pull

All articles tagged with #rug pull

Adams ally linked to NYC Token amid liquidity shock and rug-pull scrutiny
politics1 day ago

Adams ally linked to NYC Token amid liquidity shock and rug-pull scrutiny

Frank Carone, a longtime confidant of ex-New York City Mayor Eric Adams, is reported as a partner behind the NYC Token crypto venture, which sparked controversy after a liquidity withdrawal and rug-pull accusations. Adams says his partners are listed on the token’s site (which has no listed partners), while reps deny wrongdoing. The episode drew commentary from crypto figures like Brock Pierce and Eddie Cullen, and continues to unfold as investigations and legal questions loom.

via New York Daily News|
#cryptocurrency#eric-adams#frank-carone
Eric Adams’ NYC Token Sparks Frenzy, Then $1 Million Vanishes
business5 days ago

Eric Adams’ NYC Token Sparks Frenzy, Then $1 Million Vanishes

Former NYC mayor Eric Adams launched a city-themed cryptocurrency, NYC Token, aimed at funding anti-hate work; the token briefly surged to a near-$600 million market cap before a sudden withdrawal of about $2.5 million drew scrutiny and accusations of a rug pull, prompting Adams to bring in crypto investor Brock Pierce to salvage the project while some funds were later returned and questions about credibility linger.

via The New York Times|
#business#cryptocurrency#eric-adams
Ex-NYC Mayor Adams Faces Pump-and-Dump Allegations Over NYC Token
cryptocurrencies5 days ago

Ex-NYC Mayor Adams Faces Pump-and-Dump Allegations Over NYC Token

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.

via Gizmodo|
#cryptocurrencies#cryptocurrency#eric-adams