Controversy Surrounds NYC Token Launch by Former Mayor Eric Adams
- Edward Cullen, co-founder of Crescite, claims former NYC Mayor Eric Adams stole the idea for NYC Token.
- The token launched with a $600 million market cap but fell to $41 million shortly after.
- Cullen alleges that someone linked to the token’s creation removed nearly $1 million in liquidity from a Solana-based exchange.
- A spokesperson for Adams stated that no money was withdrawn from the account and all tokens are subject to lockups.
- Cullen is drafting a cease-and-desist letter against the creators of NYC Token, claiming ownership of the concept and domain “nyctoken.com.”
The launch of NYC Token by former Mayor Eric Adams has sparked controversy as Edward Cullen accuses him of stealing the idea. The token’s market cap plummeted soon after its debut, raising questions about financial conduct related to its launch.
Despite claims of misconduct, Adams’ team insists no funds were withdrawn improperly, maintaining that all tokens are locked up under restrictions. Cullen continues to pursue legal action over alleged intellectual property theft. (Source)
