Mamdani Flags $12 Billion Budget Gap as Eric Adams Battles Meme Coin Criticism

In a press conference on Wednesday, New York City Mayor Zohran Mamdani announced that the city faced a $12 billion budget shortfall over the next two fiscal years. Mamdami largely blamed former Mayor Eric Adams for chronically underbudgeting essential services. Adams swiftly pushed back on social media, arguing that his administration left $8 billion in reserves. The clash came less than two weeks after Adams launched a meme coin that caused over 60% of traders to lose money source: https://beincrypto.com/nyc-budget-crisis-adams-meme-coin-fallout/