Eric Adams’ Team Denies Profiting From NYC Token Crash

[bonk]

A spokesperson for former New York City Mayor Eric Adams has pushed back against claims that Adams profited from or manipulated the NYC Token, which plunged more than 80% within its first hour of trading. Todd Shapiro, speaking on Adams’ behalf, said unequivocally that “Eric Adams did not move investor funds” and “did not profit from the launch,” calling allegations of a rug pull false and unsupported.

The accusations gained traction after analysts alleged that over $3.4 million in liquidity had been removed during the token’s launch, triggering the steep decline. Shapiro attributed the collapse instead to market volatility, emphasizing that Adams’ involvement was never intended for personal or financial gain and reiterating his stance on “responsible innovation” in emerging technologies.

[chainsniff]

saying “didnt move funds” while also admitting to “rebalancing liquidity” is a choice