Tag

Rug Pull

All articles tagged with #rug pull

politics18 days ago•16 min saved

Gerber Frames Trump’s Crypto Windfall as a Million-Plus Losses Episode

Ross Gerber highlighted a Wall Street Journal report alleging that more than 1 million people lost money on the TRUMP meme coin while Donald Trump profited, with about 2/3 of wallets that bought the token underwater (roughly 1.48 million holders) and 85% of secondary buyers in the red. The coin peaked near a $15 billion market cap before crashing about 97% to roughly $408 million, and Trump reportedly collected about $635 million in royalties last year. Trump defends the windfall as legal and stresses crypto’s importance, while critics including lawmakers push for tighter crypto regulation.

via Yahoo Finance|

#cryptocurrency #politics #ross-gerber

politics6 months ago•4 min saved

Adams ally linked to NYC Token amid liquidity shock and rug-pull scrutiny

Frank Carone, a longtime confidant of ex-New York City Mayor Eric Adams, is reported as a partner behind the NYC Token crypto venture, which sparked controversy after a liquidity withdrawal and rug-pull accusations. Adams says his partners are listed on the token’s site (which has no listed partners), while reps deny wrongdoing. The episode drew commentary from crypto figures like Brock Pierce and Eddie Cullen, and continues to unfold as investigations and legal questions loom.

via New York Daily News|

#cryptocurrency #eric-adams #frank-carone

business6 months ago•5 min saved

Eric Adams’ NYC Token Sparks Frenzy, Then $1 Million Vanishes

Former NYC mayor Eric Adams launched a city-themed cryptocurrency, NYC Token, aimed at funding anti-hate work; the token briefly surged to a near-$600 million market cap before a sudden withdrawal of about $2.5 million drew scrutiny and accusations of a rug pull, prompting Adams to bring in crypto investor Brock Pierce to salvage the project while some funds were later returned and questions about credibility linger.

via The New York Times|

#business #cryptocurrency #eric-adams

cryptocurrencies6 months ago•16 min saved

Ex-NYC Mayor Adams Faces Pump-and-Dump Allegations Over NYC Token

Former New York City Mayor Eric Adams promoted a Solana-based NYC Token intended to fund a non-profit and fight antisemitism; the token saw a rapid price rise and liquidation of about $2.5 million to USDC within an hour, leading to accusations of a pump-and-dump/rug pull, a pattern seen with celebrity-endorsed meme coins; Adams had previously backed crypto projects like NYC Coin during his tenure.

via Gizmodo|

#cryptocurrencies #cryptocurrency #eric-adams

crypto6 months ago•36 min saved

Eric Adams’ NYC Token crashes as $2.5M liquidity drained in alleged rug pull

The NYC Token, backed by former NYC Mayor Eric Adams, peaked near a $580 million market cap but collapsed to about $130 million after a suspected rug pull; blockchain analytics flagged suspicious activity and a deployer wallet withdrew roughly $2.5 million in liquidity at the peak, with some funds not returned.

via The Verge|

#crypto #crypto-scam #cryptocurrency