🤑 Crypto Chaos: Adams’ NYC Token Leaves Traders in a Tizzy! 🌆

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Pray, allow me to regale you with the tale of Eric Adams, late of New York City’s mayoral office, whose foray into the realm of cryptocurrency has caused no small stir. With the launch of his own token, aptly named NYC, he ventured into the digital ether, only to leave a trail of financial woe in his wake. 🤑

In less than a day, more than half of the 4,300 souls who fancied themselves traders found their purses lighter, their hopes dashed upon the rocks of what analysts dare call a rug pull. Oh, the folly of it all! A meme coin, they say, though one wonders if the joke is not upon us all. 😏

The Unlikely Revival of Political Meme Coins

One might have thought the year 2025 had laid the meme coin craze to rest, a fad as fleeting as a summer breeze. Yet, here we are, witnessing its phoenix-like rise, thanks to our dear Mr. Adams. After a series of launches by sitting presidents that left investors weeping into their ledgers, one would think the world had learned its lesson. But no, the siren call of quick riches proves irresistible. 🌪️

On a Monday morn, Mr. Adams took to his social media pulpit to announce the birth of the NYC token, declaring it a bulwark against the “rapid spread of antisemitism and anti-Americanism.” Noble sentiments, to be sure, though one might question the efficacy of a cryptocurrency in such matters. 🤔

Alas, the rollout was as tumultuous as a carriage ride through unpaved streets. The token soared to a $600 million market cap, only to plummet below $100,000 with the speed of a falling star. The crypto community, ever vigilant, began their hunt for insiders, for surely such calamity could not be mere happenstance. 🕵️♂️

On-Chain Data Fuels Insider Allegations

The sleuths at Bubblemaps, a blockchain analytics platform, uncovered a most curious transaction. A wallet linked to the token’s deployer withdrew a tidy sum of $2.5 million in USDC just as the token reached its zenith. When the price fell by 60%, the creators returned $1.5 million, though the remaining $1 million remains as elusive as a gentleman’s promise. 🕳️

“The NYC wallet returned some of the money to the liquidity pool and created two large buy orders (one for $200,000 and another for $300,000) to make small purchases every 60 seconds. These movements, besides being suspicious, were not communicated beforehand and generated a lot of distrust,” remarked Fernando Molina, a blockchain analyst at Blockworks. A most peculiar dance, indeed. 💃

The investors, poor souls, were left to lick their wounds. Bubblemaps revealed that 60% of the 4,300 traders lost money, with 15 unfortunate individuals losing over $100,000. A costly lesson in the perils of speculation. 📉

The $NYC aftermath

4,300 total traders, 60% lost money:

• 2,300 lost <$1k
• 200 lost $1k – $10k
• 40 lost $10k – $100k
• 15 lost $100k+

– Bubblemaps (@bubblemaps) January 14, 2026

Mr. Molina drew parallels to the infamous LIBRA token, launched by Argentine President Javier Milei, noting striking similarities in the liquidity pool’s peculiarities. “There is no clear indication that it was the same team,” he said, “but the similarities are striking.” A pattern, perhaps, of political figures dabbling in crypto with less than stellar results. 🇦🇷

Adams Denies Allegations Amid Scrutiny

Mr. Adams, through his spokesperson Todd Shapiro, issued a statement denying any wrongdoing. “Recent reports alleging that Eric Adams moved money out of the NYC Token are false and unsupported by any evidence,” it read. “At no point was his involvement intended for personal or financial gain.” A stout defense, though one wonders if it will suffice to quell the murmurs. 🗣️

Statement from Todd Shapiro, spokesperson for former NYC Mayor Eric Adams:

– Eric Adams (@ericadamsfornyc) January 14, 2026

Yet, the scrutiny persists, for Mr. Adams’s involvement in the crypto scene has been most peculiar. As mayor, he championed Bitcoin and blockchain with the zeal of a true believer, even accepting his first three paychecks in Bitcoin. His term, however, was marred by corruption allegations and low approval ratings, leaving his political future in doubt. 🏛️

Emulating the strategy of President Donald Trump, who courted crypto lobbyists, Mr. Adams positioned himself as a pro-crypto politician. Alas, it was not enough to secure a second term. The launch of the NYC Token marks his first personal venture into cryptocurrency, and what a rocky start it has been! 🚀

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2026-01-16 02:33