Eric Adams, New York Metropolis’s former mayor, backed a cryptocurrency The token, known as NYC Token, was billed as a “commemorative asset.” Adams was a supporter of the crypto business in workplace.
Eric Adams, the not too long ago departed former mayor of New York Metropolis, endorsed a cryptocurrency known as “NYC Token” on Monday throughout a press convention held in Occasions Sq..
Wrapped in a Fendi scarf below a protracted blue coat, the crypto-friendly politician additionally wore a baseball cap, which recommended “NYC” could be the token’s ticker image.
In a video posted to X by Josie Stratman, a reporter for the New York Day by day Information, Adams mentioned the venture will tackle “antisemitism and anti-Americanism” utilizing income generated by the token, whereas additionally educating kids “find out how to embrace the blockchain expertise.”
Amid the Occasions Sq. sideshows, Eric Adams publicizes his “NYC Token,” a crypto coin he says will combat antisemitism.
“I’m not taking a wage at the moment,” he mentioned of the but to be launched coin. “Down the road, we’ll make the dedication of doing so” pic.twitter.com/KnTTdTv6y1
— Josie Stratman (@JosieStratman) January 12, 2026
Stratman’s submit indicated that the token hasn’t debuted but, and Adams isn’t “taking a wage” associated to the initiative, however he mentioned {that a} resolution to pay him a wage could possibly be reached at a later date.
In an interview with Fox Enterprise, Adams mentioned on Monday that “a considerable quantity of the cash that will probably be raised” by the token will go to nonprofits, traditionally black universities, and scholarships for New York Metropolis college students from underserved communities. Through the broadcast, Fox Enterprise described the token as “NYC’s first-ever commemorative coin.”
Beforehand a supporter of digital belongings in workplace, Adams’ remarks recommend that he’ll proceed to have an in depth relationship with the expertise, as a re-adapts to a non-public life. Democratic Socialist Zohran Mamdani was sworn in as New York Metropolis mayor two weeks in the past.
With little details about the token out there on-line, copycat tokens flooded meme coin launchpads like Pump.enjoyable. Hours after Adams spoke, greater than a dozen such tokens have been buying and selling, borrowing the emblem and ticker image that the previous mayor displayed.
A collection of copycats modeled on Eric Adams’ token. Picture: Decrypt/Pump.enjoyable
Adams famous within the video posted by Stratman that he took his first three paychecks as mayor in Bitcoin and Ethereum in 2022, a gesture underscoring his help of the nascent business. Some crypto advocates known as Adams the “Bitcoin mayor” for his help of the area.
Final yr, Adams additionally hosted the inaugural NYC Crypto Summit, the place he unveiled an advisory council aimed toward cementing town’s management in digital belongings. On the time, Adams mentioned he was unwavering in his aim to make “New York Metropolis the crypto capital of the globe.”
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Adams additionally famous that the cryptocurrency business had been “demonized” throughout his time in workplace, which coincided with the collapse of trade FTX and co-founder and former CEO Sam Bankman-Fried’s subsequent conviction for working a sweeping fraud scheme.
Adams was indicted on corruption prices in late 2024, accused of accepting $100,000 in unlawful presents like discounted luxurious journey. The case was dismissed with prejudice in April by a federal decide on the request of the Division of Justice below U.S. President Donald Trump.
Inside Adams’ displaying on Monday, there have been echoes of the president’s meme coin, which debuted not lengthy earlier than Trump’s inauguration final yr. The token’s debut confirmed how crypto-friendly politicians might swiftly leverage the expertise to their very own benefit.
Some onlookers heralded the debut of Trump’s meme coin as a option to carry crypto to the lots, however the token has led to apprehension amongst some lawmakers, who argue that it may be used as a device to deprave the U.S. president.
As a crypto market construction invoice approaches a key markup vote on Thursday, Sen. Adam Schiff (D-CA), for instance, has been amongst these calling for the inclusion of ethics guidelines, which might forestall public officers from profiting on crypto ties, per Punchbowl Information.
Decrypt couldn’t instantly attain Adams for remark.
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