Author: Nicholas Fandos, Debra Kamin
Compiled by: Chopper, Foresight News
Original title: After stepping down as mayor of New York City , he turned to selling cryptocurrency.
Two weeks ago, Eric Adams held one of the most powerful positions in the U.S. government system; now, he stands beneath the neon billboards of Times Square, peddling a cryptocurrency themed around New York City.
For most people, such a change in status might be embarrassing, but the former mayor of New York City was all smiles throughout, talking about the advantages of blockchain technology and promising that he would not profit from it at present.
"I've missed you all so much, ladies and gentlemen," he said to a group of reporters. Then, he changed the subject and began to criticize his successor for the "major mistakes" he had made, talked about business opportunities in capital cities around the world, and admitted that his experience in municipal services such as garbage collection had now become a "professional asset" that could be monetized.
This was his first public appearance since stepping down on January 1, but it was cut short as he had to catch a flight. He will first fly to Dallas, then on to Senegal, where he said more opportunities await him.
Sixty-five-year-old Adams is the most unconventional mayor in New York City's history: born into a working-class family, a former police officer, yet facing federal prosecution for his pursuit of a lavish lifestyle. All indications suggest that his post-election career will continue this unconventional approach.
In the past two weeks alone, he met with a Saudi prince in Dubai, visited the president of the Democratic Republic of Congo, and repeatedly criticized his successor, Zohran Mamdani, accusing him of overturning some of the pro-Israel policies he had implemented during his term. These actions break with the unwritten tradition of outgoing mayors showing respect to their successors.
Many details of Adams' business dealings remain shrouded in mystery, including his role as a partner in cryptocurrency projects. However, his core objectives after stepping down are becoming increasingly clear: to restore his personal reputation, criticize his successor, and repay the massive debts incurred from legal proceedings. The priority of these three objectives remains undecided.
"I'm not going to take another 9-to-5 paid job," Adams said. "I'm only working for myself."
Adams isn't the only one making plans for his post-election livelihood while simultaneously targeting Mamdani. Former New York Governor Andrew Cuomo is finalizing a deal to host a weekly show on the conservative talk show WABC. He was a regular guest on the station during his election defeat.
According to the New York Post, the show will provide Cuomo with a regular platform to promote his centrist Democratic political ideals, and he will likely use the opportunity to attack Mamdani, whom Cuomo has previously called a "far-left radical."
John Catsimatidis, the radio station's owner and a Republican billionaire, said he has no intention of paying Cuomo a salary, but simply wants to support him after his election defeat. The two sides have not yet finalized the airtime for the program. "We feel sorry for him, and we love New York," Catsimatidis said. "He wants to maintain public attention and stay connected with the people of New York."
But so far, Adams' performance since leaving office has undoubtedly been more remarkable.
Hours after attending Mamdani's inauguration, he boarded an Emirates flight to Dubai with his longtime girlfriend, Tracey Collins. Besides the Saudi prince, he was also photographed meeting with several wealthy Israeli and Uzbek businessmen.
Many political figures, both established and emerging, attended Zohran Mamdani's inauguration as mayor, including Adams.
He dined with real estate agent and reality TV star Eleonora Srugo and also took a photo with Amir Marashi, which he posted on social media. Marashi, born in Iran, is a New York-based gynecologist and women's health advocate, specializing in procedures including vaginal rejuvenation.
Meanwhile, Adams closely monitored developments in New York City. He frequently posted on social media, expressing his dissatisfaction with Mamdani's policies: for example, Mamdani overturned New York City's previously adopted expanded definition of anti-Semitism, and questioned some of his personnel appointments.
"Everyone needs a grace period, but hatred doesn't allow anyone a grace period," Adams said at an event on Monday.
Mamdani declined to respond to Adams' criticisms at another event.
Adams' interest in cryptocurrency is not a recent development. During his time as mayor, he chose to receive his first salary in cryptocurrency; he is a close friend of cryptocurrency billionaire Brock Pierce, and Pierce and other figures in the crypto industry provided financial support for his campaign last fall before he withdrew from the race for re-election.
During his tenure, Adams made "supporting Israel and combating anti-Semitism" a core part of his administration. This time, he also packaged the new token as a charitable project, saying that its proceeds would be used to combat anti-Semitism, anti-Americanism, and "teach children to embrace blockchain technology."
The official website for the token states that its total issuance will reach 1 billion. Adams said he will donate a portion of the token proceeds to non-profit organizations dedicated to the aforementioned cause, and indicated that he will not receive a salary or any compensation, at least initially.
"NYC Token is a next-generation cryptocurrency inspired by the relentless energy and innovative spirit of New York City," the project's website states. "We are building a decentralized financial ecosystem based on cutting-edge blockchain technology, with ambitions that are no different from those of the city itself."
Nevertheless, Adams appeared somewhat inadequate when describing the project's details on several occasions. During Monday's event and an interview with Fox News, he repeatedly referred to the new product as "New York City Coin."
Adams' image is prominently displayed on the token's official website, which also invites visitors to "buy now," but as of Monday night, all purchase links on the website were inaccessible.
The former mayor stated that he is also exploring other business areas, including plans to advance related initiatives during this week's trip to Africa.
"I realized that many services New York City has, even garbage collection, are hard to find in many parts of the world," Adams said. "I intend to provide this kind of assistance to other cities and countries."
All of this has raised questions about whether Adams will remain in New York in the future. He had previously stated that he hoped to retire in a city overseas, rather than return to his home in Bedford-Steffersent, Brooklyn.
But two sources familiar with the matter revealed that the former mayor plans to remain based in New York City and intends to rent an apartment in Manhattan, preferably with a view. Adams himself, at an event on Monday, attempted to dispel doubts. "I'm not going anywhere," he said.
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