- $NYC token spiked to $600M before dropping under $100M, signaling extreme early volatility for investors.
- Suspicious liquidity moves resemble $LIBRA, with $2.5M USDC removed at peak, raising red flags.
- Adams aims to fund scholarships and nonprofits, blending social goals with high-risk crypto launch.
New York City faces an unexpected crypto storm as former mayor Eric Adams launched the $NYC token, claiming it will fight antisemitism and anti-Americanism nationwide. The token, live at BuyNYCtoken.com, surged to a $600 million market cap before quickly dropping below $100 million.
Besides promoting social causes, Adams said the project will fund cryptocurrency education and college scholarships for New York City students. He emphasized, “There’s a wave of anti-Americanism that’s sweeping not only our Ivy League college campuses, but in our inner cities.”
The launch, however, raised a lot of questions immediately. Bubblemaps identified fishy liquidity pool activity, stating that the deployer’s wallet for the token $NYC withdrew 2.5 million USDC at peak market cap, only to reinvest 1.5 million post a 60% decrease.
Consequently, the sudden swings resemble past manipulations like the $LIBRA launch. Moreover, Bubblemaps reported no explanation from the team regarding these liquidity moves, which has fueled further investor caution.
Social Mission Meets Market Volatility
Adams’ vision for the $NYC token extends beyond investment. He stated the token will support nonprofits such as Combat Antisemitism and provide historical HBCU scholarships. “The money that’s raised is going to go to those nonprofits like Combat Antisemitism, going into the college funds, such as the historical HBCUs, so this is money that, without raising taxes, you can use to fight the issues, social issues in our city,” Adams said. Additionally, the website describes $NYC as representing the “unstoppable energy of the Big Apple,” appealing to dreamers and innovators in the city.
Besides promoting social good, Adams has long championed cryptocurrency adoption. He converted his first mayoral paycheck to Bitcoin and Ethereum, complying with U.S. labor regulations through Coinbase.
In October 2025, he signed an executive order establishing the Office of Digital Assets and Blockchain Technology to boost the city’s tech and financial profile. Furthermore, his 61-page blockchain plan guides city agencies on emerging tech, risks, and literacy initiatives.
Investor Caution and Industry Implications
Despite Adams’ intentions, the $NYC token’s early liquidity patterns may signal red flags for investors. Bubblemaps previously flagged similar behavior with $LIBRA, where the team extracted $87 million from liquidity pools.
Hence, analysts warn traders to exercise caution, as most of $NYC’s holdings concentrate in one cluster with no clear tokenomics shared. Moreover, the token’s rapid price swings demonstrate the volatility inherent in meme-style and cause-driven cryptocurrencies.
