Former New York City mayor Eric Adams on Monday announced the launch of a new cryptocurrency, dubbed NYC Token, and said it would aid in the fight against resurgent antisemitism.

The project’s website said the coin “represents the unstoppable energy of the Big Apple” and declared, “This is more than a token—it’s a movement.” It did not provide any details on how the asset might be used, in New York or elsewhere.

Adams, whose term ended on January 1, has close ties to Jewish communities in the US city and is a staunch supporter of Israel.

He has especially emphasized these credentials since the election in November of his successor, Zohran Mamdani, who has a history of anti-Israel activism and whom community leaders have accused of tolerating antisemitism.

At a press conference, Adams said that “one focus we have on this New York City coin is to use the revenue generating to address anti-Americanism, antisemitism, to teach our children how to embrace the blockchain technology of how to run cities correctly,” according to The New York Post.

He said profits from the coin would go to an as-yet-unnamed nonprofit, which would in turn fund groups combating antisemitism. The business model was not........

© The Times of Israel