Ex-NYC Mayor Eric Adams Claims He Didn’t Profit From NYC Token

Former New York City Mayor Eric Adams has denied accusations that he moved or profited from the NYC Token, which experienced an 80% price decline shortly after its launch on Monday. A spokesperson for Adams, Todd Shapiro, stated unequivocally that Adams did not move investor funds or profit from the token's launch and that no funds were removed. These denials came in response to allegations of a potential 'rug-pull,' with analysts claiming Adams’ team removed liquidity, costing investors over $3.4 million. Shapiro attributed the price drop to “market volatility” and stated Adams’ involvement was not for personal gain. However, Shapiro’s statement appears to contradict a previous statement from the NYC Token X account, which mentioned “rebalancing the liquidity.” Adams previously stated the token’s proceeds would fund antisemitism and anti-Americanism education programs and scholarships for NYC students. The token is currently trading at $0.133, with over $400 million wiped from its market cap.

(Source：Cointelegraph)