Ex-NYC Mayor Eric Adams Claims He Didn’t Profit From NYC Token

NYC Token team gives different explanation

However, Shapiros comments that “no funds were removed from the NYC Token” appear to conflict with a previous statement from the NYC Token X account, which said it “rebalanced the liquidity” in response to the demand the token saw at launch.

It also said it added more funds to the NYC Token liquidity pool.

In an interview with FOX Business, Adams explained that proceeds from the NYC Token would provide funding to non-profits to raise awareness about antisemitism and anti-Americanism through education programs.

Proceeds would also be used to support scholarships for NYC students in underserved communities, the former crypto-friendly NYC mayor said.

Shapiro said the controversial token launch has not altered Adams position in supporting those endeavors:

“Mr. Adams remains committed to responsible innovation and to using emerging technologies to strengthen trust, education, and shared civic values.”

NYC Token hasnt moved much since initial collapse

DEXScreener data shows that the Solana-based token is trading at $0.133, and has been hovering around that mark since it fell from $0.475 shortly after launching.

The token has lost the majority of its value since launch, according to on-chain pricing data.