{"id":100584,"date":"2026-01-14T22:47:07","date_gmt":"2026-01-14T22:47:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/100584\/"},"modified":"2026-01-14T22:47:07","modified_gmt":"2026-01-14T22:47:07","slug":"former-mayor-eric-adams-blasts-unsupported-reports-of-nyc-token-cryptocurrency-scam","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/100584\/","title":{"rendered":"Former Mayor Eric Adams blasts \u201cunsupported\u201d reports of NYC Token cryptocurrency scam"},"content":{"rendered":"<p>Out of office just two weeks, <a href=\"https:\/\/www.amny.com\/?s=eric+adams\" target=\"_blank\" rel=\"nofollow noopener\">former Mayor Eric Adams<\/a> is making headlines again \u2014 this time, responding with outrage to reports alleging that he moved money out of NYC Token, a cryptocurrency he launched this week.<\/p>\n<p>Adams, a known crypto enthusiast, launched the currency on Monday, purportedly to support funding social causes such as the fight against antisemitism. According to reports, it immediately surged to around $580 million before dropping in value.<\/p>\n<p>According to an article in <a href=\"https:\/\/www.theguardian.com\/technology\/2026\/jan\/13\/cryptocurrency-nyc-token-eric-adams\" target=\"_blank\" rel=\"noopener nofollow\">The Guardian<\/a>, observers speculated that someone may have carried out a \u201crug pull,\u201d when creators of the asset quickly sell their investments.\u00a0<\/p>\n<p>Todd Shapiro, a spokesperson for Adams, called the allegations false and are \u201cunsupported\u201d by evidence.\n<\/p>\n<p>\u201cTo be absolutely clear, Eric Adams did not move investor funds,\u201d he said in a statement. \u201cEric Adams did not profit from the launch of the NYC Token. No funds were removed from the NYC Token.\u201d<\/p>\n<p>Shapiro said the token experienced market volatility, as newly launched digital assets can go through.\u00a0\n<\/p>\n<p>\u201cNew York City remains a global financial capital, with billions of dollars in cryptocurrency traded daily, underscoring the sector\u2019s importance to the city\u2019s economy,\u201d Shapiro said. \u201cThe NYC Token is designed as a free, voluntary way to support educational and nonprofit efforts. Claims suggesting otherwise are inaccurate.\u201d<\/p>\n<p>The mission-driven crypto initiative aims to promote education and blockchain literacy, combat antisemitism and anti-Americanism, and support nonprofit and civic engagement, Shapiro explained.\u00a0<\/p>\n<p>\u201cMr. Adams remains committed to responsible innovation and to using emerging technologies to strengthen trust, education, and shared civic values,\u201d he said.\u00a0<\/p>\n<p>According to its <a href=\"https:\/\/buynyctoken.com\" target=\"_blank\" rel=\"noopener nofollow\">website<\/a>, \u201c$NYC represents the unstoppable energy of the Big Apple. Built for dreamers, innovators and believers who understand that in New York, anything is possible. This is more than a token\u2013it\u2019s a movement.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Out of office just two weeks, former Mayor Eric Adams is making headlines again \u2014 this time, responding&hellip;\n","protected":false},"author":2,"featured_media":10582,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[10525,81,9,56,63,65,64,45269],"class_list":{"0":"post-100584","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york-city","8":"tag-cryptocurrency","9":"tag-eric-adams","10":"tag-new-york","11":"tag-ny","12":"tag-nyc","13":"tag-nyc-headlines","14":"tag-nyc-news","15":"tag-nyc-token"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/100584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=100584"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/100584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/10582"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=100584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=100584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=100584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}