After the power transition in New York City, former Mayor Eric Adams embarked on an unusual new journey. Just two weeks after leaving office in January 2026, he made a high-profile launch of a New York-themed cryptocurrency called NYC in Times Square. The move instantly became a hot topic of public opinion—a recently departed municipal leader diving straight into the wave of cryptocurrency startups.

His explanation for the project sounded grand: the token was inspired by New York’s vitality and innovation, built on blockchain technology to create a decentralized financial ecosystem. The proceeds were intended to combat anti-Semitism, anti-Americanism, and promote blockchain education. Adams also emphasized that he would not profit in the early stages. This statement certainly added a moral halo to the project.

But the problem is, his enthusiasm for cryptocurrencies didn’t come out of nowhere. During his tenure, Adams had already received his salary in cryptocurrency and accepted campaign contributions from industry insiders. Since leaving office, he has been very active: traveling to Dubai and Senegal to seek business opportunities, meeting with political and business figures from various countries, and even breaking tradition by publicly criticizing his successor, Zoran Mandani—something usually taboo in politics. He also plans to venture into other fields like waste collection services, seemingly eager to restore his reputation and pay off accumulated legal debts.

However, the NYC token project itself has many flaws. The official website’s purchase links have been inaccessible for a long time, Adams himself has repeatedly confused token names in public appearances, and the identities of partner organizations remain vague. Most notably, a well-known DEX founder publicly criticized the project—stating that celebrity politicians are using blockchain as a shell for scams, and calling for the project to ensure liquidity, provide real value, and maintain transparency; otherwise, it’s all just empty promises.

Interestingly, former New York Governor Andrew Cuomo is also planning a similar public engagement strategy, aiming to maintain attention through hosting radio shows, which could also involve criticizing current leaders. The whole story reveals a phenomenon: figures in the power circle are using Web3 and cryptocurrencies as tools to stage a comeback after leaving office.