The NYC token, launched by ex-New York City Mayor Eric Adams on January 12, saw its market cap drop from ~$600M to ~$100M after suspicious liquidity activity (Decrypt)

Decrypt:
The NYC token, launched by ex-New York City Mayor Eric Adams on January 12, saw its market cap drop from ~$600M to ~$100M after suspicious liquidity activity  —  On-chain data shows unexplained liquidity withdrawals as Eric Adam's NYC token's market cap continues to bleed.  —  In brief