Former New York City Mayor Eric Adams is facing scrutiny from crypto traders after a memecoin he promoted appeared to suffer a sharp liquidity withdrawal shortly after launch.
During his time as mayor, Adams was a frequent promoter of cryptocurrency, consistently reiterating his desire to make New York the crypto capital of the world, taking his first three paychecks in bitcoin via Coinbase, leading to crypto advocates calling Adams the "Bitcoin mayor" for his support of the space.
