Eric Adams, former mayor of New York, announced the cryptocurrency project "NYC Token" to combat antisemitism and fund blockchain education for children. However, he provided vague details about the project, raising concerns about transparency and trust. The token was launched on the Solana blockchain but saw a significant drop in market value shortly after initial hype. The new mayor, Joran Mamdani, has openly stated he will not purchase the token, contrasting with Adams' previous support for the crypto industry.