Ex-NYC Mayor Eric Adams denies profiting from NYC Token chaos

Former New York City Mayor Eric Adams, through his spokesperson Todd Shapiro, has strongly denied allegations that he profited from the chaotic launch and subsequent market volatility of the NYC Token. Shapiro stated unequivocally that Adams "did not move investor funds" and "did not profit from the launch," calling the accusations "false and unsupported by any evidence." Adams' involvement was intended to promote blockchain education, combat hate, and support civic projects, not for personal financial gain. The NYC Token experienced significant market volatility, dropping over 80% from its peak valuation of $220 million. Suspicion arose after blockchain analytics flagged a digital wallet that allegedly removed $2.5 million in liquidity near the peak before returning some funds after the crash, leading to speculation of a rug pull. Data suggests about 60% of the 4,300 traders ultimately lost money in the token's aftermath.

(Source：Crypto Briefing)