Former New York City Mayor Eric Adams states he did not profit from the issuance of the Meme coin NYC Token

PANews January 15 News, according to Bloomberg, former New York City Mayor Eric Adams issued a statement through his spokesperson denying that he profited from the recently launched Meme coin NYC Token, and called reports of him transferring funds from the token “false information.” The NYC Token price soared to 58 cents after launch, then quickly plummeted below 10 cents, raising market observers’ suspicions of a similar “Rug pull” scam. Adams’ statement emphasized that he himself did not move any investor funds nor did he profit from the launch of the token. The token’s website claims to be a “community” cryptocurrency representing New York City’s energy, but has no connection to the New York City government or any other official agencies. It is currently unclear who else was involved in the issuance of the token.