Eric Adams launches NYC crypto coin to 'combat antisemitism'

NEW YORK - Former New York City Mayor Eric Adams announced the launch of his digital coin, $NYC Token, at a press conference in Times Square on Monday. 

While speaking with Maria Bartiromo on her Fox Business Network show earlier in the day, Adams said that the coin will work to "combat antisemitism," as well as "anti-Americanism" nationwide.

"There's a wave of anti-Americanism that's sweeping not only our Ivy League college campuses, but in our inner cities," Adams said, adding that the coin will additionally work to fund cryptocurrency and blockchain education as well as scholarships for New York City students. 

"The money that's raised is going to go to those nonprofits like Combat Antisemitism, going into the college funds, such as the historical HBCUs, so this is money that, without raising taxes, you can use to fight the issues, social issues in our city," the former mayor added. 

On the coin's website, it says that it "represents the unstoppable energy of the Big Apple." 

"Built for dreamers, innovators and believers who understand that in New York, anything is possible," the site goes on. "This is more than a token—it's a movement." 

Adams and cryptocurrency 

The backstory:

Adams has been promoting cryptocurrency for years.

He converted all of his first paycheck as mayor to both Bitcoin and Ethereum, for example. Due to U.S. Department of Labor regulations, however, Adams had to convert the funds to crypto via Coinbase, as New York City cannot directly pay its employees via digital currency, as noted by a press release sent out by the mayor's press office at the time. 

In Oct. 2025, Adams also signed an executive order creating the city's Office of Digital Assets and Blockchain Technology, intended to "promote the responsible use of digital assets and blockchain technologies, grow economic opportunities for New Yorkers, attract world-class talent and reinforce the city’s standing as the world’s hub for financial and technological innovation," according to a press release. 

In December, as one of his outgoing mayoral moves, Adams also released a 61-page "blockchain plan" meant to serve as a guide for city agencies to "investigate potential opportunities and risks, build public literacy on emerging technologies and establish mechanisms to track progress and coordinate citywide efforts," according to a letter attached to the document signed by New York City's Chief Technology Officer Matthew Fraser. 

Mamdani rescinds Adams' executive orders 

Dig deeper:

The unveiling of Adams' coin comes as New York City adjusts to its new mayor, Zohran Mamdani, who has already reversed a number of the former mayor's policies related to antisemitism. 

On New Year's Day, Mamdani's first day in office, he rescinded Adams' executive order aligning the definition of antisemitism with the International Holocaust Remembrance Alliance's (IHRA) definition: "a certain perception of Jews, which may be expressed as hatred toward Jews." 

The Council on American-Islamic Relations, for example, has argued that the IHRA's definition of antisemitism has been "weaponized across the country to silence advocacy against genocide and for Palestinian human rights." 

In rescinding Executive Order 61, the extra security provided for New York City synagogues was also taken away. He additionally overturned an order that restricted NYC employees from boycotting Israel, according to POLITICO.

Speaking with reporters at a press conference earlier this month, Mamdani said that his administration will be "marked by a city government that will be relentless in its efforts to combat hate and division" and "showcase that by fighting hate across the city." 

"That includes fighting the scourge of antisemitism by actually funding hate crime prevention, by celebrating our neighbors and by practicing a politics of universality," he added. 

What they're saying:

Still, Mamdani's revocations drew criticism from a number of Jewish groups, including the Israeli Foreign Ministry, which condemned his policy reversals in a post on X. 

"On his very first day as New York City mayor, Mamdani shows his true face: He scraps the IHRA definition of antisemitism and lifts restrictions on boycotting Israel," the government body wrote. 

"This isn't leadership," the post went on. "It’s antisemitic gasoline on an open fire." 

A coalition of Jewish groups, including the United Jewish Appeal-Federation of New York, released a statement condemning Mamdani's actions as well.  

"While we welcome Mayor Mamdani's Executive Order seeking to better protect houses of worship, and his continuation of the Mayor’s Office of Combatting Antisemitism, our community will be looking for clear and sustained leadership that demonstrates a serious commitment to confronting antisemitism and ensures that the powers of the mayor’s office are used to promote safety and unity," the statement reads. 

In a post on X, Adams shared another letter penned by the National Jewish Advocacy Center criticizing Mamdani's actions, saying the new mayor "promised a new era and unity." 

"This isn't new," Adams wrote. "And it isn't unity." 

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