Former New York City Mayor Eric Adams announced the launch of the "NYC Token."

Techub News, according to Fortune magazine, former New York City Mayor Eric Adams announced the launch of a cryptocurrency initiative named "NYC Token" in Times Square. He stated the plan aims to raise funds to combat anti-Semitism and anti-American sentiment, and to provide blockchain education for children. However, details such as partners, issuance timeline, and fund allocation methods have not been disclosed. Adams indicated he currently will not draw a salary from the project but may reassess in the future; the new mayor, Zohran Mamdani, also stated he will not purchase the token. NYC Token appears to have been launched on the Solana network, with its market capitalization briefly surging to approximately $700 million before falling back, currently reported at around $95.47 million.