Former New York City Mayor Eric Adams launched the "NYC Token," which quickly surged and then fell back after its debut

According to Fortune, former New York City Mayor Eric Adams announced the launch of a cryptocurrency called "NYC Token" after leaving office, stating that the project aims to raise funds to combat anti-Semitism, anti-American sentiment, and promote children's blockchain education. Adams introduced the token in Times Square but did not disclose any partners, issuance time, funding usage, or specific mechanisms, only stating that ordinary New Yorkers could participate in the investment.

During his tenure, Adams strongly supported the crypto industry but was also embroiled in controversies over ethical and conflict of interest issues. The new mayor, Zohran Mamdani, has made it clear that he will not purchase the token.

Additionally, according to information from Eric Adams' X platform, the NYC Token reportedly launched on the Solana network about an hour ago, with its market value briefly soaring to $200 million before quickly retreating, currently reported at $93.98 million.

ChainCatcher reminds users that the authenticity of the token is yet to be confirmed, and that celebrity coins are highly volatile with significant uncertainty, urging users to invest cautiously.