ADAMS & SKEEVE

 Like Long Covid or a pesky fly in the kitchen, Eric Adams will not go away. Less than two weeks after Zohran Mamdani was sworn into office, the former Mayor and present-day grifter turned up in Times Square -- an ironic spot for a guy who doesn't seem to understand that his time is up.

Adams announcing this scheme outside the
NYPD in Times Square -- this guy does not
understand the concept of irony.

In what was undoubtedly the opening salvo in his upcoming four-year attempt to
steal more than just the spotlight, Adams introduced the NYC Token. This isn't what you'd use to ride the subway, but a crypto currency that, will be used to  "address anti-Americanism, antisemitism, to teach our children how to embrace the blockchain technology of how to run cities correctly."

 Adams couldn't stop talking about -- make that took advantage of --antisemitism when the Muslim candidate kicked his ass in the primaries. Adams then ramped it up in the general election, when he received 6,897 votes out of over two million cast. While antisemitism is and will always be a problem, Adams (and his fellow fathead Andrew Cuomo) explicitly linked it to Mamdani. In their thirst to win the election, they were really campaigning on the anti-Muslim ticket. Who says politics is cynical?

So, while watching the news reports of the crooked-as-the-Shenandoah-River former mayor's crypto crap, I muttered to my wife, "This is just a pump and dump." Not like I'm any genius when it comes to economics -- every celebrity crypto business is a sham. Guess what happened.

Thirty minutes! That is some fast work there, pardner. Maybe faster than all those payoffs from Turkish officials. Here are some more details:

A wallet tied to the token’s deployer pulled $2.5 million in USDC liquidity at the market peak, only to re-add $1.5 million after the token’s price had already plunged more than 60%, according to Bubblemaps. The token’s market cap briefly touched $600 million before crashing below $110 million.

Observers likened the activity to the infamous LIBRA token collapse last year, where manipulated liquidity preceded a multi-million dollar wipeout. Critics also warned of centralized control and opaque fund flows.

Are you weeping yet?

Two kinds of people invest in celeb crypto. Starry-eyed fans who think some of that star-power translates into riches, and insiders who are out to scam them. And whether it's Kim Kardashian or Donald Trump, the scammers (and their friends) always win -- in this case, in a half hour. It doesn't matter how many times it happens, numbskulls fall for it.  And thank God because it gives me something to write about. As the president says, I like uneducated people. Sometimes.

Now Donald Trump's newest protégé successfully pulled a fast one on the public. If this is how "to teach our children how to embrace the blockchain of how to run cities correctly" as Adams promised, we've got a hell of a future ahead of us. It's all Mamdani's fault, I guess.

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