NYC Mayor doubles down on crypto push ahead of city summit
New York City Mayor Eric Adams announced partnerships with financial firms Figure and Traction and Scale to advance the city's cryptocurrency initiatives. Adams emphasized a focus on long-term benefits of digital assets for economic development rather than short-term trends. He has integrated digital assets into his policy since taking office in January 2022, including accepting his first paychecks in Bitcoin. Adams reported holding between $5,000 and $54,999.99 in Bitcoin. The Trump administration's Justice Department dismissed corruption charges against Adams related to alleged illegal donations from the Turkish government, with the case dismissed with prejudice in April. Adams visited the White House on May 9 to thank Trump for support during his 2024 campaign. Additionally, the city will host a crypto summit on May 20.
