Former NYC Mayor Eric Adams’ NYC Token Over 80% of Tankers’ Group Controls Trading

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The NYC Token, endorsed by former Mayor Eric Adams, has seen an 80% price drop shortly after its launch. The token's initial price of $730 million dropped to $111 million within hours.

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NYC Token, a Solana-based crypto token launched by former New York Mayor Eric Adams, lost more than 80% of its value shortly after its launch.

According to GeckoTerminal, the value of NYC Token rose to $730 million but dropped to $90 million in less than an hour. It has now recovered more than $110 million.

Adams described the coin as a “commemorative treasure” during a press conference in Times Square on Monday.

Proud to launch @buynyctoken, built to combat anti-Semitism and anti-Americanism that is rapidly spreading in this country and now in New York City.

Live now at pic.twitter.com/qBMzV88Tmj

— Eric Adams (@ericadamsfornyc) January 12, 2026

NYC Token is described on its website as a community-driven project that embraces the innovation, diversity and drive of New York City. The token has a total supply of one billion tokens, 80 million of which can be marketed and plans to grow to 300 million in circulation.

According to the project's mission, a portion of the proceeds will be allocated to youth crypto education, anti-hate programs and scholarships for underserved students.

However, key details such as the project's partners and the white paper are missing from the project's website, and critics have raised ethical concerns.

BubbleMaps has pointed to unusual liquidity pool activity related to the NYC Token project, including the cycling in and out of $1 million and the unexplained removal of $2.5 million USDC.

Analysts note that this behavior is reminiscent of LIBRA's inception, where liquidity was highly regulated.

4/ There is no explanation for these fluid movements.

This is sadly reminiscent of the $LIBRA launch where liquidity was heavily manipulated.

— Bubble Maps (@bubblemaps) January 13, 2026

Known as the “Bitcoin Mayor” for his advocacy of digital assets and blockchain, Adams last year established the city's Office of Digital Assets and blockchain, A first-of-its-kind initiative to promote adoption, investment and education in the sector and strengthen NYC's role in the global crypto ecosystem.

His tenure ended on December 31, 2025, and he was succeeded by Zohran Mamdani. One of Mamdani's first steps was to restructure the masses. Adams Initiatives including the Office of Digital Assets.