NYC Mayor Adams Reinforces Crypto Commitment Ahead of City Summit

New York City Mayor Eric Adams has further solidified his commitment to cryptocurrencies, announcing key partnerships to advance the city’s digital asset initiatives. This comes ahead of a major crypto summit planned for May 20th.

During a May 12th press conference at Gracie Mansion, Adams revealed collaborations with prominent figures in the financial sector. June Ou, founder of Figure, and Richie Hecker, CEO of Traction and Scale, will serve as advisors, guiding the city’s strategic development in leveraging digital assets for economic growth and public services.

“We are focused on the long-term potential of these technologies,” Adams stated, emphasizing a strategic approach rather than short-term trends. He added, “If you’re in the crypto, blockchain, Web3, or fintech space, New York City is open for business.”

Eric Adams at a press conference.

Adams’ proactive stance on crypto is well-documented. Since taking office in January 2022, he’s publicly embraced Bitcoin, receiving his first three paychecks in BTC. While his 2023 financial disclosure listed Bitcoin holdings between $5,000 and $54,999.99, he hinted at a higher value in a later press conference.

Dismissal of Corruption Charges

Recent headlines also involved Adams facing, and subsequently having dismissed, corruption charges. The case, initially alleging illegal donations from the Turkish government, was dropped with prejudice. This event, and Adams’ subsequent visit to the White House, adds a layer of complexity to his current crypto initiatives.

Related: 8 Major Crypto Firms Announce US Expansion This Year

The connection between Adams’ May 12th announcement and his White House meeting remains unclear. Cointelegraph’s attempts to seek clarification from the mayor’s office were unsuccessful at the time of publication.

Magazine: Crypto City: Guide to New York