Former NYC Mayor Eric Adams has come under fire after his new cryptocurrency token crashed just hours following its launch on Monday. As reported by CoinDesk, Adams’ “NYC Token” hit a $580 million market capitalization at its peak before plummeting to around $130 million at this time of writing.
Data from the blockchain analysis platform, Bubblemaps, flagged “suspicious” activity surrounding the coin. A wallet linked to the NYC Token’s deployer withdrew around $2.5 million in liquidity when the token reached its peak. It later added around $1.5 million back after the coin dropped by 60 percent, but, as noted by CoinDesk, around $900,000 was …
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