Former New York City mayor Eric Adams stepped back into the public crypto spotlight Monday, unveiling plans for an “NYC Token” at a press conference in Times Square — a digital coin he says will raise money to fight “antisemitism and anti‑Americanism” and fund educational programs that teach children about blockchain. Adams appeared wrapped in a Fendi scarf and long blue coat, wearing a baseball cap that suggested the token’s ticker would be “NYC.” Video of the event posted to X by New York Daily News reporter Josie Stratman shows Adams describing the project as a vehicle to generate revenue for nonprofits, historically Black colleges and universities (HBCUs), and scholarships for underserved New York City students. “I’m not taking a salary at this time,” he said of the yet‑to‑launch token, adding a future decision to pay himself could be considered down the line. In a Fox Business interview the same day, Adams said “a substantial amount of the money that will be raised” will be channeled into those charitable and educational efforts. Broadcasters labeled the initiative “NYC’s first‑ever commemorative coin.” Despite the hoopla, Stratman’s post and other coverage note the token has not officially launched and little information about it is available online. Within hours of Adams’ announcement, crypto launchpads such as Pump.fun were flooded with copycat meme coins borrowing the logo and the “NYC” ticker. More than a dozen such tokens were trading shortly after the Times Square event, underscoring how quickly third parties can appropriate branding around high‑profile crypto endorsements. The move is consistent with Adams’ history of crypto advocacy while in office: he took his first three mayoral paychecks in Bitcoin and Ethereum in 2022, hosted an inaugural NYC Crypto Summit and formed an advisory council to position the city as a hub for digital assets. Supporters dubbed him the “Bitcoin mayor” for those efforts; Adams has also warned the industry was unfairly “demonized” after high‑profile failures like the FTX collapse and Sam Bankman‑Fried’s fraud conviction. But Adams’ return to crypto activity arrives amid political and ethical scrutiny. He was indicted in late 2024 on accusations of accepting roughly $100,000 in illicit gifts, an indictment that a federal judge dismissed with prejudice in April at the Justice Department’s request. Observers also drew parallels between Adams’ token debut and the meme coin launched around former President Trump, highlighting how crypto can be used by politicians to mobilize supporters or raise funds quickly. That dynamic has prompted calls for tighter ethics guardrails as lawmakers consider crypto legislation. As a market‑structure bill neared a key markup vote this week, Sen. Adam Schiff (D‑Calif.) and others have pushed to include rules preventing public officials from profiting from crypto ties, according to Punchbowl News. Decrypt was not immediately able to reach Adams for further comment. The NYC Token story will likely be watched closely by regulators, ethicists and crypto market participants as more details — and any official token launch — emerge. Read more AI-generated news on: undefined/news

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