Ex-Mayor Eric Adams Denies NYC Token Gains Following 80% Price Collapse

Former New York City Mayor Eric Adams, once dubbed the "bitcoin mayor," has publicly denied making any profits from the NYC Token (NYC) following its dramatic 80% market crash. Adams, known for his pro-crypto stance during his tenure, addressed speculation about his involvement with the city-themed digital asset. He emphasized that he did not engage in trading the token and did not financially benefit from its short-lived surge. The NYC Token, created by a private entity and not officially affiliated with the city government, saw volatile price action, raising questions about celebrity endorsements in the cryptocurrency space. This incident highlights the regulatory gray areas and risks associated with meme and city-themed tokens.