Former 'bitcoin mayor' Eric Adams faces $3 million rugpull allegation after issuing NYC Token

Former New York City Mayor Eric Adams, often referred to as the 'bitcoin mayor' for his strong advocacy of cryptocurrency initiatives, is now confronting serious allegations involving a $3 million rug pull. This situation arose following his announcement of the issuance of a digital currency known as the NYC Token, which has raised concerns among investors and constituents about transparency and accountability in the burgeoning cryptocurrency space. The claim suggests that millions of dollars may have been misappropriated or mismanaged, casting a shadow over Adams’ previous efforts to position New York City as a leader in the crypto economy. As investigations unfold, questions linger about the implications for both Adams' reputation and the future of cryptocurrency governance in the city. source: https://www.coindesk.com/markets/2026/01/13/former-bitcoin-mayor-eric-adams-faces-usd3-million-rugpull-allegation-after-issuing-nyc-coin