Former New York City Mayor Eric Adams announced the launch of "NYC Token".

PANews reported on January 13th that, according to Fortune magazine, former New York City Mayor Eric Adams announced a cryptocurrency project called "NYC Token," aimed at raising funds to combat anti-Semitism and anti-American sentiment, and to educate children about blockchain technology. However, specific details of the project remain quite vague. At a brief launch event in Times Square, Adams did not specify how the token would specifically combat anti-Semitism, nor did he disclose partners, launch date, or how funds would be used. Adams stated that he will not currently receive a salary from the project, but may reassess it in the future. Adams was a strong supporter of the crypto industry during his presidency, but has also been controversial due to ethical and conflict-of-interest issues. New Mayor Zohran Mamdani has stated that he will not purchase the token.

According to information posted by Eric Adams on the X platform, the NYC Token appears to have been launched on the Solana network. Its market value briefly surged to $700 million before quickly falling back, and is currently trading at $95.47 million.