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{"actor":"system:backfill","investigation_id":"1206d9a3-3822-4b62-8ee6-ddbd05bbc8c9","kind":"publish","page_slug":"eric-adams-nyc-token","published_at":"2026-06-02T22:47:27.194Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Eric Adams / NYC Token","sections":[{"content":"Former New York City Mayor Eric Adams announced and promoted the NYC Token ($NYC) on January 12, 2026, appearing on Fox Business and holding a press event in Times Square. The Solana-based token officially launched the evening of January 12–13, 2026. Within minutes of going live, the token's market capitalization surged to approximately $540–600 million at an opening price of roughly $0.58. Approximately 30 minutes after launch, the token's price collapsed by more than 80 percent, falling to approximately $0.10–$0.11, with the market capitalization dropping to an estimated $87–110 million. CoinMarketCap data (as of early June 2026) shows the token's all-time high as $0.1420 on January 14, 2026, with a circulating supply of approximately 300 million tokens and a market cap of approximately $25.9 million — a fraction of its launch-day peak. CoinGecko similarly lists the all-time low as $0.08570 (March 2, 2026). One trader tracked by Bubblemaps purchased approximately $745,000 in NYC tokens and sold less than 20 minutes later, realizing a loss of roughly $473,000.","heading":"Token Launch and Market Collapse","severity":"high","sources":[{"credibility":2,"name":"Former 'bitcoin mayor' Eric Adams faces $3 million rugpull allegation after issuing NYC Token — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/01/13/former-bitcoin-mayor-eric-adams-faces-usd3-million-rugpull-allegation-after-issuing-nyc-coin"},{"credibility":2,"name":"Investors cry foul over former NYC Mayor Eric Adams's crypto launch: 'Such an obvious rug' — Fortune","type":"news_article","url":"https://fortune.com/2026/01/13/eric-adams-nyc-token-rugpull-libra-milei-cryptocurrency-liquidity-pool-memecoin/"},{"credibility":2,"name":"NYC Token price data — CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/nyc-token/"},{"credibility":2,"name":"NYC Token price data — CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/nyc-token"}]},{"content":"Blockchain analytics firms Bubblemaps and Lookonchain both published on-chain analyses shortly after the collapse. Bubblemaps reported that wallet identifier '9Ty4M,' linked to the token deployer, created a one-sided liquidity pool on the Meteora decentralized exchange and withdrew approximately $2.43 million in USDC near peak pricing. Approximately $1.5 million in USDC was redeposited after the token price had already fallen more than 60 percent, leaving approximately $932,000 in USDC unaccounted for in that round trip. Lookonchain separately reported a figure of approximately $3.18 million in USDC withdrawn at the price peak. Nicolas Vaiman, co-founder of Bubblemaps, estimated that developers may have extracted approximately $1 million in net profit and publicly described the event as 'a clear rug pull.' The token's supply was also highly concentrated at launch: the top five wallets held approximately 92 percent of total supply, a single wallet held approximately 70 percent of circulating tokens, and the top ten wallets collectively controlled approximately 98.73 percent of supply — a configuration multiple analysts described as enabling an abrupt price collapse. The liquidity pool was structured as a one-sided pool containing only the token itself, allowing developers to withdraw USDC as users bought in, a structure Fortune noted mirrored tactics observed in the 2024 LIBRA token scandal involving Argentine President Javier Milei. No on-chain evidence has been publicly verified directly linking Eric Adams personally to the controlling wallets; the identified wallets are described in reporting as 'linked to' or 'associated with' the token deployer.","heading":"On-Chain Evidence: Liquidity Withdrawal Allegations","severity":"critical","sources":[{"credibility":2,"name":"Former New York Mayor's NYC memecoin rugpulls investors — CryptoSlate (Bubblemaps analysis)","type":"on_chain","url":"https://cryptoslate.com/eric-adams-nyc-token-crashed-81-and-a-single-wallets-massive-70-holding-reveals-why-the-game-was-rigged/"},{"credibility":2,"name":"Eric Adams' NYC Token Crashes Amid Liquidity Extraction Allegations — Decrypt","type":"news_article","url":"https://decrypt.co/354377/eric-adams-nyc-token-crashes-amid-liquidity-extraction-allegations"},{"credibility":2,"name":"Former Mayor Eric Adams' NYC Token Sparks Rug Pull Concerns — BeInCrypto","type":"news_article","url":"https://beincrypto.com/eric-adams-nyc-token-liquidity-centralization/"},{"credibility":2,"name":"Eric Adams NYC Token Controversy: Shocking $3.2M USDC Withdrawal — CryptoRank (Lookonchain data)","type":"on_chain","url":"https://cryptorank.io/news/feed/44151-eric-adams-nyc-token-withdrawal"},{"credibility":2,"name":"Investors cry foul over former NYC Mayor Eric Adams's crypto launch — Fortune","type":"news_article","url":"https://fortune.com/2026/01/13/eric-adams-nyc-token-rugpull-libra-milei-cryptocurrency-liquidity-pool-memecoin/"}]},{"content":"Eric Adams and his representatives issued multiple public denials following the collapse. Through former campaign spokesperson Todd Shapiro, Adams stated: 'After the launch of NYC Token, there was a lot of demand. Our market maker made adjustments in an attempt to keep trading running smoothly, and as part of this process, moved liquidity. The team has not sold any tokens and are subject to lockups and transfer restrictions. We are focused on being transparent and building for the long term.' In a follow-up statement published by CoinDesk on January 15, 2026, Adams' team made three explicit denials: 'Eric Adams did not move investor funds. Eric Adams did not profit from the launch of the NYC Token. No funds were removed from the NYC Token.' Adams himself said at the Times Square launch: 'We're about to change the game…This thing is going to take off like crazy,' and framed the project as tied to civic causes, stating proceeds would fund anti-antisemitism education, scholarships for underserved students, and blockchain education programs. The NYC Token's social media account separately stated: 'The team has not withdrawn any money from the account. We are excited to see the response for this Token.' These claims directly contradict on-chain data reported by independent analytics firms. Details on how charitable proceeds would be managed or distributed were not disclosed at launch. The token's official website, buynyctoken.com, had non-functional 'Buy NYC Token' and 'Read Whitepaper' buttons at the time of the announcement.","heading":"Adams' Response and Denials","severity":"medium","sources":[{"credibility":2,"name":"NYC token crash: Former 'bitcoin mayor' Eric Adams denies profiting from ill-fated launch — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/01/15/former-bitcoin-mayor-eric-adams-denies-profiting-from-nyc-token-after-80-crash"},{"credibility":2,"name":"Former NYC Mayor Eric Adams has a new act as a crypto entrepreneur — Fortune","type":"news_article","url":"https://fortune.com/2026/01/12/eric-adams-new-york-mayor-crypto-blockchain-nyc-token/"},{"credibility":3,"name":"Eric Adams on X announcing NYC Token — @ericadamsfornyc","type":"social_media","url":"https://x.com/ericadamsfornyc/status/2010849167258566727"}]},{"content":"Reporting by NBC New York and an Associated Press investigation published January 16, 2026, identified several individuals connected to the NYC Token launch. Frank Carone, Adams' former chief of staff and a longtime political confidant and attorney for the Brooklyn Democratic Party, was identified as closely involved in the token's creation. Carone had no known prior experience in the cryptocurrency industry. Yosef Sefi Zvieli, described as a real estate investor with connections to Israeli hotels and a previous business relationship with Carone, was also identified as part of the token's team; his role reportedly included outreach to influencers ahead of the debut. Neither Carone nor Zvieli appeared to have direct cryptocurrency experience. Billionaire crypto investor and former child actor Brock Pierce, who had previously been described as Adams' 'crypto adviser,' stated publicly that he learned of the project only after its launch and said: 'Had I been consulted, I would've put together a team of more qualified people.' The full composition of the team behind the token's technical development, the identity of the deployer-linked wallet, and the precise division of token ownership among team members had not been disclosed as of the time of reporting.","heading":"Individuals Involved in the Token Launch","severity":"high","sources":[{"credibility":2,"name":"Inside the botched launch of ex-NYC Mayor Eric Adams' new crypto token — NBC New York / AP","type":"news_article","url":"https://www.nbcnewyork.com/news/local/explaining-eric-adams-crypto-token-launch/6444591/"},{"credibility":2,"name":"Inside the botched launch — BNN Bloomberg","type":"news_article","url":"https://www.bnnbloomberg.ca/markets/crypto/2026/01/16/inside-the-botched-launch-of-ex-nyc-mayor-eric-adams-new-crypto-token/"},{"credibility":2,"name":"Adams ally Frank Carone among partners behind NYC ex-mayor's controversial crypto token — Union-Bulletin","type":"news_article","url":"https://www.union-bulletin.com/news/national/adams-ally-frank-carone-among-partners-behind-nyc-ex-mayor-s-controversial-crypto-token/article_9720127d-4596-5af7-ba19-262dd485aeef.html"}]},{"content":"A separate controversy emerged alongside the rug-pull allegations. Eddie Cullen, described as a self-proclaimed tech entrepreneur, former NYC mayoral candidate, and founder of the crypto company Crescite, claimed he had originated the NYC Token concept and had trademarked the name. Cullen said he began sharing ideas with Adams' inner circle around June 2025, and that a press release from his political action committee, Innovate NY, had previously described plans to support a trademarked initiative called 'NYC Token.' Cullen said he had no warning about Adams' January 2026 announcement and stated plans to send Adams a cease-and-desist letter, accusing Adams of taking over the concept without authorization. As of available reporting in January 2026, no formal lawsuit had been filed by Cullen.","heading":"Trademark Dispute and Third-Party Claims","severity":"medium","sources":[{"credibility":2,"name":"Eric Adams' Crypto Coin Accused of Scamming Investors, Hijacking Trademark — The City NYC","type":"news_article","url":"https://www.thecity.nyc/2026/01/13/eric-adams-crypto-coin-scam-trademark/"},{"credibility":2,"name":"Former Mayor Eric Adams Hijacked 'NYC Token' Concept, Startup Claims — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/former-mayor-eric-adams-hijacked-222926729.html"}]},{"content":"Over 60 percent of traders who participated in the NYC Token launch lost money, according to on-chain analysis. Multiple investors reported significant losses: one wallet tracked by Bubblemaps lost approximately $473,500 (a 63.5 percent loss) within 20 minutes after panic-selling during the collapse. At least 15 traders were reported to have suffered losses exceeding $100,000. Investors subsequently filed a class-action lawsuit alleging fraud, with reported losses including $50,000 for at least one pair of plaintiffs. No formal charges by a government regulator — including the SEC, CFTC, or New York state regulators — had been publicly announced as of available reporting. However, analysts noted New York regulators have historically taken an aggressive stance on crypto fraud, and the regulatory environment governing meme coins remained fluid following the Trump administration's shift in oversight emphasis from the SEC toward the CFTC for commodity-like crypto assets.","heading":"Investor Losses and Litigation","severity":"high","sources":[{"credibility":3,"name":"Over 60% of Traders Lost Money on Eric Adams-Backed NYC Token — AInvest","type":"news_article","url":"https://www.ainvest.com/news/60-traders-lost-money-eric-adams-backed-nyc-token-2601/"},{"credibility":3,"name":"Former NYC Mayor Eric Adams Allegedly Drains $3.18M In Crypto Exit Scam — Yellow.com","type":"news_article","url":"https://yellow.com/news/former-nyc-mayor-eric-adams-allegedly-drains-dollar318m-in-crypto-exit-scam-that-left-investors-devastated"},{"credibility":1,"name":"Eric Adams crypto coin crashes soon after launch, sparking scam accusations — The Washington Post","type":"news_article","url":"https://www.washingtonpost.com/politics/2026/01/13/eric-adams-crypto-crash/"}]},{"content":"Eric Adams was indicted on September 26, 2024, by the U.S. Attorney's Office for the Southern District of New York (SDNY) on five counts: conspiracy to receive campaign contributions from foreign nationals and commit wire fraud and bribery; wire fraud; two counts of soliciting campaign contributions from foreign nationals; and soliciting and accepting a bribe. He became the first sitting New York City mayor to be criminally charged. The indictment alleged that between 2016 and October 2023, Adams sought and accepted benefits including free luxury travel and illegal campaign contributions from Turkish officials and other foreign nationals. Specifically, prosecutors alleged Adams pressured the FDNY to allow a Turkish government skyscraper to open before completing a fire inspection. Adams pleaded not guilty at arraignment on September 27, 2024. In February 2025, the U.S. Department of Justice under the Trump administration directed SDNY prosecutors to drop the case, citing concerns that prosecution was interfering with Adams' cooperation on federal immigration enforcement priorities. Acting U.S. Attorney Danielle Sassoon refused and resigned; eight other prosecutors also resigned in protest. Federal Judge Dale E. Ho dismissed the indictment with prejudice on April 2, 2025, meaning charges cannot be brought again. In his written order, Judge Ho stated: 'Everything here smacks of a bargain: dismissal of the Indictment in exchange for immigration policy concessions.' The NYC Token launch occurred approximately nine months after this dismissal.","heading":"Prior Federal Indictment and Dismissal","severity":"high","sources":[{"credibility":1,"name":"New York City Mayor Eric Adams Charged With Bribery And Campaign Finance Offenses — DOJ / SDNY","type":"regulatory","url":"https://www.justice.gov/usao-sdny/pr/new-york-city-mayor-eric-adams-charged-bribery-and-campaign-finance-offenses"},{"credibility":1,"name":"Federal judge drops corruption case against New York City Mayor Eric Adams — NPR","type":"news_article","url":"https://www.npr.org/2025/04/02/g-s1-57386/judge-new-york-eric-adams"},{"credibility":2,"name":"Eric Adams' federal corruption case dismissed — City & State New York","type":"news_article","url":"https://www.cityandstateny.com/politics/2025/04/eric-adams-federal-corruption-charges-dismissed/404227/"},{"credibility":1,"name":"Timeline of NYC Mayor Eric Adams' corruption case and dismissal — CBS New York","type":"news_article","url":"https://www.cbsnews.com/newyork/news/eric-adams-corruption-case-timeline/"}]},{"content":"Eric Adams had a documented history of cryptocurrency advocacy before the NYC Token launch. During his 2021 mayoral campaign, he pledged to make New York City the 'center of the cryptocurrency industry,' competing with Miami Mayor Francis Suarez for the title of most crypto-friendly U.S. city. Upon taking office in January 2022, Adams accepted his first three mayoral paychecks converted into Bitcoin and Ethereum via Coinbase, a publicized symbolic gesture. His crypto enthusiasm was muted in late 2022 following the collapse of the FTX exchange. He subsequently hosted a Crypto and Digital Assets Summit at the mayoral residence, Gracie Mansion, in May 2025, established a Crypto Advisory Council, and signed an executive order in October 2025 creating an Office of Digital Assets and Blockchain Technology to position NYC as a 'global capital of digital assets.' These initiatives were later reversed by incoming Mayor Zohran Mamdani. Adams left office in early January 2026 after losing the Democratic primary, and announced the NYC Token within days of his departure from public office.","heading":"Adams' Crypto History and Background","severity":"low","sources":[{"credibility":1,"name":"Mayor Adams to Receive First Paycheck in Cryptocurrency — NYC Mayor's Office","type":"official","url":"https://www.nyc.gov/mayors-office/news/2022/01/mayor-adams-receive-first-paycheck-cryptocurrency"},{"credibility":2,"name":"Former NYC Mayor Eric Adams has a new act as a crypto entrepreneur — Fortune","type":"news_article","url":"https://fortune.com/2026/01/12/eric-adams-new-york-mayor-crypto-blockchain-nyc-token/"},{"credibility":1,"name":"Mayor Adams Takes Action to Position New York City as Global Capital of Digital Assets — NYC Mayor's Office","type":"official","url":"https://www.nyc.gov/mayors-office/news/2025/10/mayor-adams-takes-action-to-position-new-york-city-as-global-cap"},{"credibility":2,"name":"Eric Adams crypto summit features all-day open bar and BitLicense criticism — Blockworks","type":"news_article","url":"https://blockworks.co/news/eric-adams-crypto-summit-features-bitlicense-criticism"}]},{"content":"Independent risk analysis identified several structural red flags in the NYC Token at launch. CoinMarketCap lists a CertiK security rating of 2.9/10 for the token. The token had only approximately 480 documented holders per CoinMarketCap data, and by early June 2026 the 24-hour trading volume had fallen to approximately $82,000 — consistent with severely diminished interest. The token's website, buynyctoken.com, had non-functional whitepaper and purchase links at the time of announcement. No whitepaper detailing token economics, governance, or fund distribution was published. The identity of the technical team responsible for smart contract deployment was not disclosed. The stated charitable beneficiaries — organizations focused on antisemitism, anti-Americanism, and blockchain education — were not named or verified, and the mechanism by which proceeds would reach them was unspecified.","heading":"Token Structural and Safety Concerns","severity":"high","sources":[{"credibility":2,"name":"NYC Token price data and CertiK rating — CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/nyc-token/"},{"credibility":2,"name":"Eric Adams' NYC Token Faces Scrutiny After Liquidity Moves Raise Rug Pull Concerns — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/eric-adams-nyc-token-faces-082713092.html"},{"credibility":2,"name":"Former NYC mayor Eric Adams under scrutiny following apparent NYC Token crypto 'rug pull' — Jerusalem Post","type":"news_article","url":"https://www.jpost.com/crypto-currency/article-883231"}]}],"sources_used":[{"credibility":2,"name":"Former 'bitcoin mayor' Eric Adams faces $3 million rugpull allegation after issuing NYC Token — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/01/13/former-bitcoin-mayor-eric-adams-faces-usd3-million-rugpull-allegation-after-issuing-nyc-coin"},{"credibility":2,"name":"NYC token crash: Former 'bitcoin mayor' Eric Adams denies profiting from ill-fated launch — CoinDesk","type":"news_article","url":"https://www.coindesk.com/markets/2026/01/15/former-bitcoin-mayor-eric-adams-denies-profiting-from-nyc-token-after-80-crash"},{"credibility":2,"name":"Investors cry foul over former NYC Mayor Eric Adams's crypto launch: 'Such an obvious rug' — Fortune","type":"news_article","url":"https://fortune.com/2026/01/13/eric-adams-nyc-token-rugpull-libra-milei-cryptocurrency-liquidity-pool-memecoin/"},{"credibility":2,"name":"Former NYC Mayor Eric Adams has a new act as a crypto entrepreneur — Fortune","type":"news_article","url":"https://fortune.com/2026/01/12/eric-adams-new-york-mayor-crypto-blockchain-nyc-token/"},{"credibility":1,"name":"Eric Adams crypto coin crashes soon after launch, sparking scam accusations — The Washington Post","type":"news_article","url":"https://www.washingtonpost.com/politics/2026/01/13/eric-adams-crypto-crash/"},{"credibility":2,"name":"Former New York Mayor's NYC memecoin rugpulls investors — CryptoSlate","type":"on_chain","url":"https://cryptoslate.com/eric-adams-nyc-token-crashed-81-and-a-single-wallets-massive-70-holding-reveals-why-the-game-was-rigged/"},{"credibility":2,"name":"Eric Adams' NYC Token Crashes Amid Liquidity Extraction Allegations — Decrypt","type":"news_article","url":"https://decrypt.co/354377/eric-adams-nyc-token-crashes-amid-liquidity-extraction-allegations"},{"credibility":2,"name":"Inside the botched launch of ex-NYC Mayor Eric Adams' new crypto token — NBC New York / AP","type":"news_article","url":"https://www.nbcnewyork.com/news/local/explaining-eric-adams-crypto-token-launch/6444591/"},{"credibility":1,"name":"Inside the botched launch — BNN Bloomberg","type":"news_article","url":"https://www.bnnbloomberg.ca/markets/crypto/2026/01/16/inside-the-botched-launch-of-ex-nyc-mayor-eric-adams-new-crypto-token/"},{"credibility":2,"name":"Eric Adams' Crypto Coin Accused of Scamming Investors, Hijacking Trademark — The City NYC","type":"news_article","url":"https://www.thecity.nyc/2026/01/13/eric-adams-crypto-coin-scam-trademark/"},{"credibility":2,"name":"Eric Adams' Next Gig: Hawking Crypto With Undisclosed Backers — The City NYC","type":"news_article","url":"https://www.thecity.nyc/2026/01/12/eric-adams-crypto-coin-token/"},{"credibility":1,"name":"New York City Mayor Eric Adams Charged With Bribery And Campaign Finance Offenses — DOJ / SDNY","type":"regulatory","url":"https://www.justice.gov/usao-sdny/pr/new-york-city-mayor-eric-adams-charged-bribery-and-campaign-finance-offenses"},{"credibility":1,"name":"Federal judge drops corruption case against New York City Mayor Eric Adams — NPR","type":"news_article","url":"https://www.npr.org/2025/04/02/g-s1-57386/judge-new-york-eric-adams"},{"credibility":1,"name":"Timeline of NYC Mayor Eric Adams' corruption case and dismissal — CBS New York","type":"news_article","url":"https://www.cbsnews.com/newyork/news/eric-adams-corruption-case-timeline/"},{"credibility":2,"name":"NYC Token price data — CoinMarketCap","type":"on_chain","url":"https://coinmarketcap.com/currencies/nyc-token/"},{"credibility":2,"name":"NYC Token price data — CoinGecko","type":"on_chain","url":"https://www.coingecko.com/en/coins/nyc-token"},{"credibility":1,"name":"Mayor Adams to Receive First Paycheck in Cryptocurrency — NYC Mayor's Office","type":"official","url":"https://www.nyc.gov/mayors-office/news/2022/01/mayor-adams-receive-first-paycheck-cryptocurrency"},{"credibility":1,"name":"Mayor Adams Takes Action to Position New York City as Global Capital of Digital Assets — NYC Mayor's Office","type":"official","url":"https://www.nyc.gov/mayors-office/news/2025/10/mayor-adams-takes-action-to-position-new-york-city-as-global-cap"},{"credibility":3,"name":"Eric Adams on X announcing NYC Token — @ericadamsfornyc","type":"social_media","url":"https://x.com/ericadamsfornyc/status/2010849167258566727"},{"credibility":2,"name":"Former Mayor Eric Adams Hijacked 'NYC Token' Concept, Startup Claims — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/former-mayor-eric-adams-hijacked-222926729.html"},{"credibility":2,"name":"Eric Adams' NYC Token Faces Scrutiny After Liquidity Moves Raise Rug Pull Concerns — Yahoo Finance","type":"news_article","url":"https://finance.yahoo.com/news/eric-adams-nyc-token-faces-082713092.html"},{"credibility":2,"name":"Eric Adams NYC Token Controversy: Shocking $3.2M USDC Withdrawal — CryptoRank","type":"on_chain","url":"https://cryptorank.io/news/feed/44151-eric-adams-nyc-token-withdrawal"},{"credibility":2,"name":"Adams ally Frank Carone among partners behind NYC ex-mayor's controversial crypto token — Union-Bulletin / AP","type":"news_article","url":"https://www.union-bulletin.com/news/national/adams-ally-frank-carone-among-partners-behind-nyc-ex-mayor-s-controversial-crypto-token/article_9720127d-4596-5af7-ba19-262dd485aeef.html"}],"summary":"NYC Token ($NYC) is a Solana-based memecoin launched on January 12–13, 2026, by former New York City Mayor Eric Adams at a Times Square press conference. The token surged to an approximately $540–600 million market capitalization before losing more than 80 percent of its value within roughly 30 minutes, following on-chain movements in which a wallet linked to the token deployer withdrew approximately $2.43–$3.18 million in USDC from the liquidity pool. Adams and the NYC Token team denied any wrongdoing, attributing the liquidity movements to routine market-maker adjustments, while blockchain analytics firms and multiple credible media outlets characterized the pattern as consistent with a 'rug pull.' Adams separately carried a prior federal indictment on bribery and campaign-finance charges — unsealed in September 2024 — that was dismissed with prejudice in April 2025 following a DOJ directive under the Trump administration.","timeline":[{"date":"2021-11-02","event":"Eric Adams elected Mayor of New York City after campaigning on making NYC the 'crypto capital of the world.'","source":"NYC Mayor's Office","source_url":"https://www.nyc.gov/mayors-office/news/2022/01/mayor-adams-receive-first-paycheck-cryptocurrency"},{"date":"2022-01-21","event":"Adams announces his first mayoral paycheck will be converted to Bitcoin and Ethereum via Coinbase.","source":"NYC Mayor's Office","source_url":"https://www.nyc.gov/mayors-office/news/2022/01/mayor-adams-receive-first-paycheck-cryptocurrency"},{"date":"2024-09-26","event":"Adams indicted by SDNY on five federal counts including bribery, wire fraud, and soliciting illegal foreign campaign contributions. He pleads not guilty.","source":"DOJ / SDNY press release","source_url":"https://www.justice.gov/usao-sdny/pr/new-york-city-mayor-eric-adams-charged-bribery-and-campaign-finance-offenses"},{"date":"2025-02-01","event":"DOJ under Trump administration directs SDNY to drop charges against Adams. Acting U.S. Attorney Danielle Sassoon and eight prosecutors resign in protest.","source":"NPR","source_url":"https://www.npr.org/2025/04/02/g-s1-57386/judge-new-york-eric-adams"},{"date":"2025-04-02","event":"Federal Judge Dale E. Ho dismisses Adams' indictment with prejudice, permanently barring re-prosecution on the same charges.","source":"NPR","source_url":"https://www.npr.org/2025/04/02/g-s1-57386/judge-new-york-eric-adams"},{"date":"2025-05-01","event":"Adams hosts Crypto and Digital Assets Summit at Gracie Mansion and announces a city Crypto Advisory Council.","source":"CoinDesk policy coverage","source_url":"https://www.coindesk.com/policy/2025/05/20/nyc-mayor-eric-adams-creating-crypto-advisory-council"},{"date":"2025-10-01","event":"Adams signs executive order establishing NYC Office of Digital Assets and Blockchain Technology.","source":"NYC Mayor's Office","source_url":"https://www.nyc.gov/mayors-office/news/2025/10/mayor-adams-takes-action-to-position-new-york-city-as-global-cap"},{"date":"2026-01-12","event":"Adams announces the NYC Token at a Times Square press conference, claiming it will combat antisemitism and anti-Americanism. Token launches on Solana.","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/01/13/former-bitcoin-mayor-eric-adams-faces-usd3-million-rugpull-allegation-after-issuing-nyc-coin"},{"date":"2026-01-12","event":"NYC Token reaches an estimated peak market capitalization of $540–600 million shortly after launch, then collapses more than 80% within approximately 30 minutes.","source":"Fortune","source_url":"https://fortune.com/2026/01/13/eric-adams-nyc-token-rugpull-libra-milei-cryptocurrency-liquidity-pool-memecoin/"},{"date":"2026-01-13","event":"Bubblemaps and Lookonchain publish on-chain analyses showing wallet linked to token deployer withdrew approximately $2.43–$3.18 million USDC from the liquidity pool near the price peak. CoinDesk, Fortune, and The Washington Post publish rug-pull allegations.","source":"CoinDesk / Bubblemaps","source_url":"https://www.coindesk.com/markets/2026/01/13/former-bitcoin-mayor-eric-adams-faces-usd3-million-rugpull-allegation-after-issuing-nyc-coin"},{"date":"2026-01-13","event":"Eddie Cullen (Crescite / Innovate NY) alleges Adams appropriated his trademarked NYC Token concept and threatens a cease-and-desist letter.","source":"The City NYC","source_url":"https://www.thecity.nyc/2026/01/13/eric-adams-crypto-coin-scam-trademark/"},{"date":"2026-01-15","event":"Adams' team issues explicit denials through CoinDesk: 'Eric Adams did not move investor funds. Eric Adams did not profit from the launch of the NYC Token.'","source":"CoinDesk","source_url":"https://www.coindesk.com/markets/2026/01/15/former-bitcoin-mayor-eric-adams-denies-profiting-from-nyc-token-after-80-crash"},{"date":"2026-01-16","event":"AP/NBC New York investigation identifies Frank Carone (former Adams chief of staff) and Yosef Sefi Zvieli as partners behind the token's creation. Brock Pierce says he was not consulted before launch.","source":"NBC New York / AP","source_url":"https://www.nbcnewyork.com/news/local/explaining-eric-adams-crypto-token-launch/6444591/"},{"date":"2026-01-01","event":"Investors file a class-action lawsuit alleging fraud in connection with the NYC Token collapse.","source":"Yahoo Finance / Decrypt","source_url":"https://decrypt.co/354377/eric-adams-nyc-token-crashes-amid-liquidity-extraction-allegations"}]},"v":1}