BlockBeats News: On January 13, following the rapid price surge and subsequent decline of NYC Token after its listing, which drew attention from the community, the project issued a statement on the X platform clarifying the situation. It stated that due to unexpectedly strong market support and demand in the early stages of the token's launch, NYC Token's partners conducted a liquidity rebalancing operation in the liquidity pools. The team has now acknowledged community reports regarding some "liquidity removal" activities. The team has initiated a TWAP fundraising effort and added additional funds to the liquidity pools. They also emphasized that the team is committed to long-term project development.
Previously reported, former New York City Mayor Eric Adams announced the launch of a cryptocurrency called "NYC Token" after leaving office, claiming the project aims to raise funds to combat anti-Semitism, anti-American sentiment, and promote blockchain education for children. Adams introduced the token at Times Square, but did not disclose the partners, launch date, how the funds would be used, or specific mechanisms, only stating that ordinary New Yorkers could participate in the investment.