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Eric Adams Denies NYC Token Rug Pull Allegations as Onchain Data Shows Major Liquidity Losses
On January 14, 2026, Eric Adams’ spokesperson denied that the former New York City mayor moved or benefited from funds tied to the newly launched NYC Token, following heavy investor losses. The project attributed sharp post-launch price swings to early market volatility and temporary liquidity "rebalancing," while onchain analysts reported multimillion-dollar withdrawals and estimated that around 60% of roughly 4,300 traders lost money in the token’s first hours.