Overview
- NYC Token launched on Solana with a 1 billion supply and briefly hit roughly $600–$730 million in market value before falling 60%–80% to near $110 million within hours, according to on-chain trackers.
- Bubblemaps said a wallet linked to the token deployer removed about $2.43 million in USDC at the peak and later added back roughly $1.5 million, leaving around $900,000 unaccounted for and drawing comparisons to prior politician-linked token blowups.
- The project offered no detailed public explanation for the liquidity shifts, though its X account later referenced using TWAP mechanisms to manage volatility.
- The token’s website launched with nonfunctional buy and whitepaper links and no team or partner disclosures; Adams said he is one of three creators and is not taking a salary “at this time.”
- Adams said proceeds would support nonprofits such as Combat Antisemitism, HBCUs, and scholarships for underserved students, but he declined to name backers, the site says the team takes 10% of profits, and governance details remain unclear.