Eric Adams, the former mayor of New York, has apparently rug-pulled his newly launched crypto token, NYC Token.
NYC Token, describes itself as “the digital heartbeat of New York City” while Adams himself has called it a token that was “built to fight the rapid spread of antisemitism and anti-Americanism across this country and now in New York City.”
At no point in the announcement video, however, does Adams explain mechanistically how this token will achieve this.
The website for the token claims it will “support awareness campaigns, educational programs, and community initiatives that work to eliminate antisemitism and promote understanding and respect.”
It continues, “Through partnerships with community organizations and educational institutions, we will help fund programs that educate about Jewish history, culture, and the importance of standing against hate in all its forms, fostering a city where everyone can thrive.”
Read more: New York’s pro-Bitcoin mayor is already pissing off liberals
Shortly after the launch of the token, X user RuneCrypto_ observed that the liquidity for this token was withdrawn mere minutes after launch.
Rune added that “apparently he’s not using app.anyswap.bot to mix funds privately.”
This isn’t the first crypto token that Adams has involved himself with; before launching NYC Token, he was a promoter of NYC Coin.
This coin, associated with the now defunct CityCoins project, promised to give a portion of its token sale proceeds back to New York City. A similar token, MiamiCoin, was subsequently launched and was promoted by the city’s mayor Francis Suarez.
These tokens were delisted from all exchanges as of 2023.
This isn’t the first time that Adams has been accused of inappropriate or illegal business practices, as he was previously indicted for “bribery and campaign finance offenses.”
The Donald Trump administration dropped its case against Adams after the Department of Justice, under the direction of Emil Bove, sent a memorandum to the Southern District of New York that claimed the charges had “unduly restricted Mayor Adams’ ability to devote full attention and resources to the illegal immigration and violent crime.”
Adams has yet to make a public statement about the rug-pull of this NYC Token.
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Source: https://protos.com/eric-adams-was-accused-of-bribery-now-hes-rug-pulled-nyc-token/
