tech
January 13, 2026
Eric Adams slammed for 'pulling the rug' on new NYC crypto coin
Former New York Mayor Eric Adams is facing blistering accusations from the cryptocurrency community after a digital token he helped promote collapsed in value, triggering what many traders are calling a “rug pull” that wiped out millions of dollars in investor funds.
TL;DR
- Eric Adams is facing accusations of a "rug pull" related to the NYC token he promoted.
- The NYC token, a Solana-based meme coin, surged in value upon launch but quickly plummeted by over 80%.
- Critics allege developers pulled millions from the token's liquidity pool, a common "rug pull" tactic.
- The NYC token creators stated they needed to "rebalance the liquidity" due to demand.
- Investors estimate at least $3 million in liquidity was removed during the crash.
- Adams, a former crypto advocate, previously supported digital assets and blockchain adoption.
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