Over 60% of Traders Lost Money on Eric Adams-Backed NYC Token

Eric Adams, who stepped down as New York City’s mayor two weeks ago, made a high-profile entry into the crypto space with the launch of his own token, NYC. Less than 24 hours later, more than half of the 4,300 traders who bought the token were left with losses. The project quickly took on the characteristics of a meme coin, with analysts describing the episode as a textbook rug pull scenario. The Unexpected Comeback of Political Meme Coins Most people thought that 2025 had marked the end of the meme coin wave source: https://beincrypto.com/eric-adams-backed-nyc-token-crash/