Over 60% of Traders Lost Money on Eric Adams-Backed NYC Token

TL;DR:

Eric Adams, who stepped down as New York City’s mayor two weeks ago, made a high-profile entry into the crypto space with the launch of his own token, NYC. Less than 24 hours later, more than half of the 4,300 traders who bought the token were left with losses.

Key Points:

Background:

Cryptocurrency markets continue to evolve with new developments affecting the broader digital asset ecosystem.

Why It Matters:

This development could influence ADA price action and market sentiment in the near term.