Eric Adams Crypto Meme Coin.

Former New York City Mayor Eric Adams is facing questions about the launch of a new cryptocurrency token, which he claims will help support efforts to end antisemitism and anti- Americanism. On Monday, the coin launched to a nearly $600 million valuation, before plummeting by 75% after an account withdrew $2.5 million. While some of the funds were returned, crypto investors accused the former mayor of a “rug pull,” referring to a scheme where insiders hype and then dump an asset. Adams has denied wrongdoing, but declined to share details about who else was involved in the launch.