"Adams told journalists Monday morning that the " NYC Token" project would generate money to fund blockchain education for underserved New Yorkers and fight antisemitism and "anti-Americanism." He didn't say how, or specify who he was working with, but said he wasn't drawing a salary yet. The project's website mentions an entity called C18 Digital LLC in its terms of service. An entity with that name was formed in Delaware on December 30. The certificate of formation was signed by Sefi Zvieli."
"The City, a nonprofit news outlet, reported in 2023 that Zvieli avoided foreclosure on a "filthy, fetid, and dangerous" block of student housing he owned in Brooklyn by inking a deal to rent it to a New York City-financed nonprofit as a homeless shelter for $3.5 million a year. The story said he snagged the deal after hiring Frank Carone, a lawyer with close ties to Adams, after Adams had won the New York City mayoral election but before he was sworn in as mayor."
Former New York City mayor Eric Adams promoted a digital asset called "NYC Token," saying it would generate money to fund blockchain education for underserved New Yorkers and fight antisemitism and "anti-Americanism." He did not specify partners or explain how funds would be generated and said he was not drawing a salary. The token's value spiked and then fell about 80% the next day. The project's terms reference C18 Digital LLC; filings show C18 Digital LLC was formed in Delaware on December 30 and the certificate was signed by Sefi Zvieli. Zvieli previously avoided foreclosure on a Brooklyn student-housing block by renting it to a city-financed nonprofit as a homeless shelter for $3.5 million a year after hiring lawyer Frank Carone, who has close ties to Adams. Zvieli's role in NYC Token beyond signing formation papers is unclear.
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