Eric Adams Launches $NYC Token to Combat Antisemitism and Promote Education
By Isabel Soisson | Updated January 12, 2026, 8:19 PM EST
NEW YORK — Former New York City Mayor Eric Adams unveiled a new digital cryptocurrency, the $NYC Token, at a high-profile press conference held in Times Square on Monday. The initiative is designed to address antisemitism and anti-Americanism across the country while fostering educational opportunities in blockchain technology for New York City’s youth.
A Digital Initiative Against Hate and Division
Speaking earlier in the day during an interview with Maria Bartiromo on Fox Business Network, Adams emphasized the coin’s mission to fight what he described as a "wave of anti-Americanism" affecting Ivy League campuses as well as inner-city communities. "The money that’s raised is going to go to nonprofits like Combat Antisemitism, funding college scholarships including ones for historically Black colleges and universities (HBCUs)," Adams explained. "This is funding that, without raising taxes, can tackle social issues impacting our city."
The coin’s official website describes $NYC Token as embodying "the unstoppable energy of the Big Apple," built for "dreamers, innovators, and believers" who understand the promise that "in New York, anything is possible." It highlights the token as not merely a digital asset but a broader social movement.
Adams’ Crypto Advocacy and Blockchain Efforts
Adams has been a long-time proponent of cryptocurrency. Early in his mayoral tenure, he converted his first paycheck into Bitcoin and Ethereum, an event that required conversion through Coinbase due to existing restrictions on paying city employees directly in digital currency.
In October 2025, Adams signed an executive order establishing the city’s Office of Digital Assets and Blockchain Technology. The office’s goal was to promote the responsible use of digital assets, create economic growth for New Yorkers, attract top talent, and solidify New York City’s status as a global leader in finance and technological innovation.
As his term came to an end, Adams also introduced a comprehensive 61-page “blockchain plan” in December 2025. The document serves as a road map for city agencies to explore blockchain’s potential benefits and risks, improve public understanding, and develop coordinated strategies citywide.
Policy Changes Under New Mayor Zohran Mamdani
Adams’ crypto announcement follows significant policy shifts under current Mayor Zohran Mamdani, who took office on New Year’s Day. One of Mamdani’s earliest actions was to rescind Adams’ executive order adopting the International Holocaust Remembrance Alliance’s (IHRA) working definition of antisemitism. This move revoked security measures previously granted to New York City synagogues and overturned restrictions on NYC employees boycotting Israel.
The Council on American-Islamic Relations (CAIR) has criticized the IHRA definition, arguing that it has been "weaponized" to suppress advocacy for Palestinian human rights. Mamdani stressed that his administration would be "relentless in its efforts to combat hate and division," focusing on combating antisemitism by funding hate crime prevention, celebrating diverse communities, and practicing inclusive politics.
Responses and Criticism from Jewish Groups
Mamdani’s reversals have sparked criticism from various Jewish organizations and the Israeli Foreign Ministry. The ministry condemned the policy changes in a post on social media platform X, stating: "On his very first day as New York City mayor, Mamdani shows his true face: He scraps the IHRA definition of antisemitism and lifts restrictions on boycotting Israel. This isn’t leadership; it’s antisemitic gasoline on an open fire."
Similarly, a coalition of Jewish groups, including the United Jewish Appeal-Federation of New York, issued a statement acknowledging Mamdani’s efforts to protect houses of worship but expressing the need for "clear and sustained leadership" to confront antisemitism and promote safety and unity in the city.
In response, Adams shared a letter from the National Jewish Advocacy Center criticizing Mamdani’s policy reversals, noting that despite promises of a "new era and unity," the current trajectory lacks both.
About $NYC Token
- Launched by former NYC Mayor Eric Adams
- Targets combating antisemitism and anti-American sentiment
- Funds scholarships and blockchain education initiatives for NYC students
- Part of Adams’ broader vision to integrate cryptocurrency into civic and social programs
The launch of $NYC Token enters the spotlight amid a period of political transition and ongoing debate over how best to address antisemitism and social cohesion in New York City.
Sources: Press conference in Times Square, interview on Fox Business Network, $NYC Token website, Adams administration press releases, statements from the Israeli Foreign Ministry and various Jewish organizations, POLITICO, and social media posts.