Eric Adams-Promoted Memecoin Crashes 80% Minutes After Launch, Sparking Rug Pull Allegations Against Former NYC Mayor

Benzinga

01/13

A memecoin launched by Former New York City Mayor Eric Adams sparked controversy Monday after it pumped and dumped, inviting allegations of a rug pull.NYC Token’s Rollercoaster RideThe NYC Token (NYC)...

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Mayor","media":"Benzinga","content":"<div>\n<p>A memecoin launched by Former New York City Mayor Eric Adams sparked controversy Monday after it pumped and dumped, inviting allegations of a rug pull.NYC Token’s Rollercoaster RideThe NYC Token (NYC)...</p>\n\n<a href=\"https://www.benzinga.com/crypto/cryptocurrency/26/01/49866332/eric-adams-promoted-memecoin-crashes-80-minutes-after-launch-sparking-rug-pull-allegations-against-former-nyc-mayor\">网页链接</a>\n\n</div>\n","source":"Benzinga","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Eric Adams-Promoted Memecoin Crashes 80% Minutes After Launch, Sparking Rug Pull Allegations Against Former NYC Mayor</title>\n<style 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New York City Mayor Eric Adams sparked controversy Monday after it pumped and dumped, inviting allegations of a rug pull.NYC Token’s Rollercoaster RideThe NYC Token (NYC)...</p>\n\n<a href=\"https://www.benzinga.com/crypto/cryptocurrency/26/01/49866332/eric-adams-promoted-memecoin-crashes-80-minutes-after-launch-sparking-rug-pull-allegations-against-former-nyc-mayor\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4160","symbol_name":"多样化房地产投资信托v","start_time":0,"source_url":"https://www.benzinga.com/crypto/cryptocurrency/26/01/49866332/eric-adams-promoted-memecoin-crashes-80-minutes-after-launch-sparking-rug-pull-allegations-against-former-nyc-mayor","article_id":"2603506286","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2026/01/13/New-York--New-York---April-04-Mayor-Eric.jpeg"],"rights":{"source":"Benzinga","url":"https://www.benzinga.com/crypto/cryptocurrency/26/01/49866332/eric-adams-promoted-memecoin-crashes-80-minutes-after-launch-sparking-rug-pull-allegations-against-former-nyc-mayor","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2603506286","pubTimestamp":1768291380,"columns":[],"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"A memecoin launched by Former New York City Mayor Eric Adams sparked controversy Monday after it pumped and dumped, inviting allegations of a rug pull.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4160":"多样化房地产投资信托v","NYC":"American Strategic Investment","BK4233":"房地产运营公司"},"translate_title":"埃里克·亚当斯(Eric Adams)推广的Memecoin在推出后80%就崩溃了，引发了对前纽约市长的指控","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NYC":1.5},"content_text":"A memecoin launched by Former New York City Mayor Eric Adams sparked controversy Monday after it pumped and dumped, inviting allegations of a rug pull.NYC Token’s Rollercoaster RideThe NYC Token (NYC) launched on the Solana (CRYPTO: SOL) blockchain to fight what Adams described as growing “antisemitism and anti-Americanism” in the country and in New York City.The memecoin started with a bang and swiftly gained a market valuation of $540 million, only to crash 80% to $87 million roughly 30 minutes later,  according to Dexscreener data.As of this writing, the meme coin was valued at $128 million, still 75% below the initial frenzy. \n\n‘Rug Pull’ AllegationsThe dramatic collapse sparked outrage, with several popular X accounts accusing Adams of a rug pull.Cryptocurrency analyst Emperor Osmo said that Adams removed liquidity from his own token and made over $3 million through the scam.\n\nRune, another widely followed on-chain analyst, made the same allegation.\n\nX users have also added a community note to Adams’ post promoting the memecoin, which reads, “Former Mayor Eric Adams immediately withdrew his liquidity from the coin, in what is typically called a ‘rug pull.'”Response From NYC Token TeamThe team behind the NYC token reacted to the controversy, stating that its partners had to “rebalance the liquidity” due to “overwhelming demand” for the memecoin.They added that additional funds have been added to the liquidity pool.Benzinga also reached out to Adams for a comment.\n\nPolitical memecoins have existed before, with launches linked to President Donald Trump, First Lady Melania Trump, and Argentinian President Javier Milei sparking similar allegations of financial misconduct.Benzinga Note: Investing in meme coins, especially those launched by high-profile individuals, is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading.Photo courtesy: Shutterstock$SOLSolana$139.870.60%Overview$BTCBitcoin$91832.000.70%$DOGEDogecoin$0.13861.57%$ZECZcash$401.33-1.25%Market News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}