TLDR:
- Eric Adams presented the NYC Token in Times Square with a focus on social causes and blockchain education.
- The funds raised will be dedicated to fighting antisemitism and supporting Historically Black Colleges and Universities (HBCUs).
- The project’s debut sparked an immediate wave of copycat tokens on platforms like Pump.fun.
The former mayor of New York City, Eric Adams, has returned to the tech spotlight. In a press conference held this Monday in Times Square, Adams officially endorsed the launch of the NYC Token (ticker: NYC) cryptocurrency.
According to the politician, this project is not merely a financial asset, but a tool designed to address critical social issues such as antisemitism and “anti-American sentiment.”
During the event, Adams explained that the proceeds generated by NYC will be used to fund non-profit organizations, scholarships for students from underserved communities, and Historically Black Colleges and Universities.
Furthermore, the project includes a robust educational component, aiming to teach children “how to embrace blockchain technology.” While Adams will not receive an initial salary for this initiative, he did not rule out the possibility of receiving compensation in the future as the project scales.
Market Impact and the Legacy of the “Bitcoin Mayor”
The news triggered an immediate reaction within the crypto ecosystem. Following the announcement, memecoin launchpads such as Pump.fun were flooded with over a dozen imitators using the NYC Token logo and ticker.
This frenzy reflects the ongoing interest in Adams, who in 2022 famously received his first three paychecks as mayor in Bitcoin and Ethereum, earning him the nickname “Bitcoin Mayor.”
Adams’ move echoes similar strategies seen on the national political stage, where tokens linked to high-profile figures are launched to mobilize capital and social support.
However, the debut of the NYC Token also arrives amid ethical scrutiny, as the U.S. Senate debates regulations to prevent public officials from profiting from their ties to the crypto sector.
In summary, for Adams, this project represents a continuation of his goal to consolidate New York as the tech capital of the world, now from his new chapter in private life.
