2026-01-13 14:21:30

The NYC token project, recently launched by Eric Adams, the former New York City mayor, saw rapid growth initially, reaching a $600M market cap during its early surge. However, the momentum reversed sharply when the development team withdrew $2.5M USDC from the liquidity pools. Following this move, the token's price plummeted approximately 70%, leaving many investors exposed to significant losses. This incident highlights the risks associated with newly launched tokens and the critical importance of liquidity stability in volatile market conditions. The episode raises questions about project management practices and liquidity handling in emerging crypto assets.

USDC-0,03%

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GhostInTheChain

· 01-13 14:47

Running away right at the open, I've seen this trick many times. It's really a full package of pump and dump.

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Deconstructionist

· 01-13 14:46

Ha, it's the same old trick again, withdrawing liquidity to directly break the price, a typical rug pull variant. --- The mayor is really daring to do coins, and this is the result? --- 70% cut, I swear I watched millions vanish into thin air. --- The so-called New York concept ultimately still comes down to a trust game, and it’s easily broken. --- You should know this would happen once it’s launched. Anyone who trusts celebrity coins deserves it. --- Withdrawing 2.5m can smash through a 600m order book. What does that mean? There’s no liquidity at all. --- Eric Adams: I’m here to promote products, not to run projects. --- Another promise of "We will change New York" turning into bubbles, laughable. --- Still daring to chase new coins in a bear market, this mindset is unmatched.

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DaoDeveloper