Former New York City Mayor Eric Adams says he did not profit from the issuance of the Meme NYC Token.

Former New York City Mayor Eric Adams, through his spokesperson, issued a statement denying that he profited from the recently launched Meme NYC Token and calling reports of him transferring funds from the token "false information." The NYC Token price initially surged to 58 cents after its launch before quickly plummeting to below 10 cents, prompting market observers to question whether it resembled a "rug pull" scam.