{"id":127615,"date":"2026-01-16T09:43:26","date_gmt":"2026-01-16T09:43:26","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=127615"},"modified":"2026-01-16T09:43:26","modified_gmt":"2026-01-16T09:43:26","slug":"obvious-rug-pull-heres-everything-about-eric-adams-nyc-token-crashed-82","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=127615","title":{"rendered":"Obvious Rug Pull? Here\u2019s Everything About Eric Adams\u2019 NYC Token Crashed 82%"},"content":{"rendered":"

A crypto token promoted by former New York City mayor Eric Adams collapsed within hours of its debut, raising fresh concerns about political memecoins and sparking \u201crug pull\u201d claims from traders.<\/span><\/p>\n

Adams introduced the Solana-based \u201cNYC Token\u201d ($NYC) during a public appearance in Times Square on January 12.\u00a0<\/span><\/p>\n

He framed it as a project meant to support anti-hate campaigns, fund scholarships, and back basic crypto education efforts.<\/span><\/p>\n

This might be the wildest political crypto rug of 2026<\/p>\n

A former NYC mayor just launched a token called $NYC<\/a>.<\/p>\n

It was sold as a way to fight \u201cantisemitism and anti-Americanism.\u201d<\/p>\n

It hit $600M.<\/p>\n

Then it nuked.<\/p>\n

Here\u2019s what really happened <\/p>\n

Eric Adams dropped $NYC<\/a> on Solana\u2026 pic.twitter.com\/KEqhAv9TQO<\/a><\/p>\n

\u2014 Evan Luthra (@EvanLuthra) January 13, 2026<\/a><\/p>\n\n

DISCOVER: Top 20 Crypto to Buy in 2026<\/a><\/p>\n

What Triggered the NYC Token\u2019s Sudden -75% Price Collapse?<\/h2>\n

As per <\/span>APnews<\/span><\/a>, early trading pushed its estimated value close to $580\u2013$600M. But the rally didn\u2019t last.\u00a0<\/span><\/p>\n

The price fell more than -75% the same day after blockchain analysts pointed to a major liquidity pull from a wallet tied to the launch.<\/span><\/p>\n

The sudden drop left buyers questioning the project\u2019s structure and the role of the wallets involved.\u00a0<\/span><\/p>\n

And it renewed calls for clearer rules around politically branded crypto tokens, which continue to appear even as market risks grow.<\/span><\/p>\n

The selloff appears tied to a liquidity move that analysts, including Bubblemaps, say looked like a typical \u201crug pull.\u201d\u00a0<\/span><\/p>\n

In this pattern, early insiders pull out large amounts of value and leave late buyers sitting on sharp losses.<\/span><\/p>\n

Reports from The Associated Press and The Washington Post said a wallet linked to the token\u2019s creation withdrew roughly $2.5M near the top.\u00a0<\/span><\/p>\n

The same wallet later added back about $1.5M, but only after the token had already dropped.<\/span><\/p>\n

The project is also facing basic questions about its purpose. The coin has no connection to New York City\u2019s government, and the team has <\/span>shared<\/span><\/a> little detail about its governance, partners, or how funds would be used.\u00a0<\/span><\/p>\n

That has added to concerns around the launch.<\/span><\/p>\n

DISCOVER: 16+ New and Upcoming Binance Listings in 2025<\/a><\/p>\n

Why Did Analysts Flag NYC Token\u2019s Liquidity Withdrawals as Suspicious?<\/h2>\n

In the latest <\/span>trading data<\/span><\/a>, $NYC stood near $0.133, up about +2.7% in the past day. Trading volume came in around $3.1M.\u00a0<\/span><\/p>\n

Coingecko showed a market cap of about $10.6M and a fully diluted value near $133M, based on a maximum supply of 1 billion tokens.<\/span><\/p>\n

(Source: Coingecko)<\/a><\/p>\n

In new token launches, liquidity pools help traders buy and sell without sharp price swings.<\/span><\/p>\n

\u00a0But critics say removing a large chunk of liquidity at the top of a rally can shake the market and spark panic selling, especially in fast-moving memecoins.<\/span><\/p>\n

Nicolas Vaiman, the founder of Bubblemaps, <\/span>told<\/span><\/a> The Washington Post that the size and timing of the withdrawals didn\u2019t look like normal rebalancing.\u00a0<\/span><\/p>\n

\u201cInstead, they pulled $2.5M at once, added back only $1.5M\u2026,\u201d he said. \u201cThis is such an obvious rug.\u201d<\/span><\/p>\n

Fortune, after reviewing on-chain activity along with Bubblemaps\u2019 analysis, reported that the developer may have made around $1M through the strategy, though it also noted there was no clear indication that Adams received any of that money.<\/span><\/p>\n

The project\u2019s team has pushed back on the allegations. The Guardian reported that NYC Token wrote on X that its partners \u201chad to rebalance the liquidity\u201d because of strong demand at launch.\u00a0<\/span><\/p>\n

The Washington Post also cited the token\u2019s account saying the team was \u201cin it for the long haul.\u201d<\/span><\/p>\n

DISCOVER: Next 1000X Crypto \u2013 Here\u2019s 10+ Crypto Tokens That Can Hit 1000x This Year<\/a><\/p>\n

\n

\n

Key Takeaways<\/h2>\n

\n<\/p>


\n In the latest <\/span>trading data<\/span><\/a>, $NYC stood near $0.133, up about +2.7% in the past day. Trading volume came in around $3.1M.\u00a0<\/span><\/p>\n

\n<\/p>

\n<\/p>

\u00a0<\/span>A crypto token promoted by former New York City mayor Eric Adams collapsed within hours of its debut, raising fresh concerns about political memecoins and sparking \u201crug pull\u201d claims from traders.<\/span><\/p>\n

\n<\/p>

\n<\/p><\/div>\n<\/p>

\u00a0<\/p>\n

The post Obvious Rug Pull? Here\u2019s Everything About Eric Adams\u2019 NYC Token Crashed 82%<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

A crypto token promoted by former New York City mayor Eric Adams collapsed within hours of its debut, raising fresh concerns about political memecoins and sparking \u201crug pull\u201d claims from traders. Adams introduced the Solana-based \u201cNYC Token\u201d ($NYC) during a public appearance in Times Square on January 12.\u00a0 He framed it as a project meant […]<\/p>\n","protected":false},"author":0,"featured_media":127616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-127615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/127615"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127615"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/127615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/127616"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}