Former New York City Mayor Eric Adams announced the launch of his digital coin, $NYC Token, at a press conference in Times Square on Monday.

While speaking with Maria Bartiromo on her Fox Business Network show earlier in the day, Adams said that the coin will work to “combat antisemitism,” as well as “anti-Americanism” nationwide.

“There’s a wave of anti-Americanism that’s sweeping not only our Ivy League college campuses, but in our inner cities,” Adams said, adding that the coin will additionally work to fund cryptocurrency and blockchain education as well as scholarships for New York City students.

“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,” the former mayor added.

On the coin’s website, it says that it “represents the unstoppable energy of the Big Apple.”

“Built for dreamers, innovators and believers who understand that in New York, anything is possible,” the site goes on. “This is more than a token—it’s a movement.”

Adams’ newly launched crypto token allegedly pocketed nearly $1 million through suspicious manipulation of a liquidity pool on Monday.

The creator of the NYC token sent 80 million coins to an account that added the tokens as liquidity on a decentralized exchange.

That account then removed $2.43 million in USDC before adding back $1.5 million, leaving approximately $932,000 in unaccounted-for USDC liquidity, on-chain analytics platform Bubblemaps confirmed to Decrypt on Monday.

(YWN World Headquarters – NYC)