The NYC Token, presented by former New York Mayor Eric Adams, has sharply depreciated by more than 70% shortly after its launch in Times Square. The new crypto asset was unveiled on January 8, 2026, during a public presentation featuring media representatives.
This is reported by Finway
Goals and Challenges of the NYC Token Launch
According to Adams, the NYC Token aims to support the fight against violence, educate youth, and combat anti-Semitism. He emphasized that through this project, “ordinary New Yorkers” will have the opportunity to influence the future of their city by engaging in cryptocurrency investments.
“The token is meant to help combat violence, educate children, and counter anti-Semitism.”
However, the project’s website lacks detailed information about the development team, the token distribution structure, or the launch conditions. Additionally, the whitepaper page and the token purchase function were not operational. According to the stated data, the market capitalization of the NYC Token exceeded $2.5 million, with a total supply of 1 billion tokens and the number of holders reaching 10,000, yet other important details were not disclosed.
Suspicious Transactions and Sharp Value Decline
Just a few hours after the announcement, independent analysts reported a series of anomalous transactions that raised concerns among investors. The analytical group Rune Crypto recorded liquidity withdrawals totaling over $3.4 million. User StarPlatinum pointed out the centralized nature of the project’s management and the increasing risks for token holders. Additionally, the service Bubblemaps discovered that a wallet associated with the token’s creators withdrew $2.5 million in the stablecoin USDC, and after the sharp drop in the token’s value, returned $1.5 million.
Due to these actions and the lack of transparency, the price of the NYC Token collapsed by more than 70% from its initial value.
NYC/USD Chart. Data: Axiom.