Former New York Mayor Eric Adams has a new act as a crypto entrepreneur—though details of his ‘NYC Token’ remain vague

During his final days in office, embattled New York City Mayor Eric Adams teased his future after politics, pledging to use cryptocurrency to “go after violence, educate our children, and deal with antisemitism.” 

It didn’t take long for Adams to unveil his plans. On Monday morning, about a dozen reporters and camera operators huddled in the heart of Times Square as Adams detailed the “NYC Token,” his yet-to-be launched cryptocurrency designed to raise funds that will be used to address antisemitism and anti-Americanism, as well as to teach children how to embrace blockchain technology. 

“We want to make sure everyday New Yorkers can invest and create an atmosphere they want to see in their city,” Adams said.

The former mayor of the U.S.’s largest city didn’t say how his cryptocurrency will fight antisemitism. And he didn’t disclose who he was partnering with to launch the token, when it will be released, and how funds will be used. In a brief question-and-answer portion, Adams directed reporters to a website that he said would contain more information about the team behind the initiative. 

The website, however, includes no such details, with buttons advertising “buy NYC token” and “read whitepaper” not working as of publication. Still, it claims that the token already has a $2.5 million market cap with one billion tokens in supply ...