Eric Adams Hawked a Crypto Coin. A Day Later, $1 Million Was Missing.
The New York Times • • business
Key Points:
- Eric Adams launched NYC Token, a New York City-themed cryptocurrency intended to fund efforts against antisemitism.
- Adams expressed high confidence in the coin's potential, describing it as poised to "take off like crazy."
- Upon trading debut, NYC Token's market capitalization surged to nearly $600 million within minutes.
- The coin's value rapidly collapsed after an account associated with the launch withdrew approximately $2.5 million without prior notice, causing investor concern.
