Eric Adams Faces Rug Pull Allegations After NYC Token Crash

Summary

CoinDesk Daily covers former NYC Mayor Eric Adams facing scrutiny after the NYC Token suffered a sharp post-launch liquidity withdrawal and price crash. The show also reports a delay in the Senate Agriculture Committee's crypto market structure markup and Strategy's latest large Bitcoin purchase, with Bitcoin trading above $93,000.

• Eric Adams faces rug-pull allegations over the NYC Token.
• NYC Token briefly reached a $580 million market cap before a 60% crash.
• A deployer-linked wallet withdrew about $2.5 million in liquidity; $900,000 remains unaccounted for.
• The Senate Agriculture Committee delayed its crypto market structure markup until late January.
• The Senate Banking Committee is still scheduled to hold its markup Thursday.
• Strategy added 13,627 Bitcoin for about $1.25 billion.
• Strategy now holds over 687,000 Bitcoin at an average price near $75,000.
• Bitcoin traded above $93,000 as Strategy shares ticked up.