New NYC Mayor Mamdani Says He Holds No Crypto, Will Not Buy Adams' Memecoin

New York City Mayor Zohran Mamdani stated publicly that he does not own any cryptocurrency and has no intention of buying the NYC Token, a memecoin launched by former Mayor Eric Adams. Adams launched the token to support education and social causes, but it immediately faced "rug pull" allegations after reports suggested liquidity was intentionally removed, causing significant investor losses. Mamdani, who campaigned on affordability, had previously supported legislation for stronger stablecoin consumer protections. His stance contrasts sharply with Adams, who was a vocal crypto advocate, famously receiving his first mayoral paychecks in Bitcoin. Mamdani's administration is signaling a shift away from the previous administration's approach to digital assets.

(Source：Cointelegraph)