Eric Adams’ NYC Token memecoin launches, plunges after debut
Former New York City Mayor Eric Adams has launched “NYC Token,” a New York City–themed cryptocurrency he says is intended to counter antisemitism and “anti-Americanism” and to encourage innovation in the city. Adams announced the project on Twitter on Monday, Jan. 12, 2026, linking to the project’s website (https://t.co/zowY9Ri3aK).
In an interview with FOX Business, Adams said proceeds from NYC Token are planned to support nonprofits running education programs addressing antisemitism and anti-Americanism, fund blockchain and crypto education, and provide scholarships for New York City students in underserved communities. “There’s a wave of anti-Americanism that is sweeping not only on Ivy League college campuses but in the cities, so the goal is how do we use blockchain technology with this token, and a substantial amount of money raised from this token is going to fight those initiatives,” he said.
In an accompanying video on Twitter, Adams said, “We’re about to change the game,” adding, “If you can’t make it to New York, we’re going to bring New York to you.”
NYC Token slides shortly after debut
Trading data from DEXScreener shows the Solana-based token fell from $0.47 to $0.10 roughly 30 minutes after launch. Over the same period, its market capitalization dropped from nearly $500 million to under $110 million at the time of writing.
Unverified claims circulated on social media alleged that the project’s team removed liquidity. Crypto analyst Rune cited blockchain data and alleged investor losses exceeding $3.4 million.
Project details and next steps
The NYC Token website provides limited information on the project’s roadmap. As of publication, the “Buy NYC Token” and “Read Whitepaper” buttons were nonfunctional.
According to the site’s tokenomics, 40% of the supply is earmarked for community rewards, 25% for liquidity, 15% for development, and the remaining 20% split between marketing and the team. The website also states: “We’re creating a decentralized financial ecosystem that’s as ambitious as the city itself.”
City leadership shifts
Adams was succeeded by Zohran Mamdani on Jan. 1 following Mamdani’s Nov. 4 victory over crypto advocate and former New York governor Andrew Cuomo.
While in office, Adams positioned himself as a supporter of digital assets, including converting some of his earliest paychecks into crypto. Mamdani has taken a more anti-capitalist stance, drawing criticism from segments of the crypto industry, with some warning his leadership could push tech talent out of the city.
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