Eric Adams’ Crypto Coin Accused of Scamming Investors, Hijacking Trademark
Eric Adams’ post-mayoral debut in the world of crypto currency ran into a bit of a buzz saw this week, with his new coin, The NYC Token, plunging in value shortly after he announced it as the “future of digital currency” at a frigid Times Square event.
The token opened at 60 cents per share Monday afternoon and almost immediately sky dived to 10 cents a share. By Tuesday it was trading at around 13 cents, and the company running it had removed liquidity from the equation. Sites that cover crypto quickly accused developers of The NYC Token of “rug pulling,” effectively triggering big losses for those investors who jumped in at the start.
Meanwhile, a self-proclaimed tech…
