PANews reported on January 13th that, according to Fortune magazine, former New York City Mayor Eric Adams announced a cryptocurrency project called "NYC Token," aimed at raising funds to combat anti-Semitism and anti-American sentiment, and to educate children about blockchain technology. However, specific details of the project remain quite vague. At a brief launch event in Times Square, Adams did not specify how the token would specifically combat anti-Semitism, nor did he disclose partners, launch date, or how funds would be used. Adams stated that he will not currently receive a salary from the project, but may reassess it in the future. Adams was a strong supporter of the crypto industry during his presidency, but has also been controversial due to ethical and conflict-of-interest issues. New Mayor Zohran Mamdani has stated that he will not purchase the token.

According to information posted by Eric Adams on the X platform, the NYC Token appears to have been launched on the Solana network. Its market value briefly surged to $700 million before quickly falling back, and is currently trading at $95.47 million.