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New York Mayor-Elect Eric Adams Envisions Crypto Paychecks for All

  • Adams said he wants New York City to become innovation hub
  • Says Democrats need to focus on basics after electoral losses
Eric Adams

Eric Adams

Photographer: Jeenah Moon/Bloomberg

New York City Mayor-elect Eric Adams said he wants to explore ways that might allow New Yorkers to be paid directly in Bitcoin and other cryptocurrencies, as he seeks to turn the city into a hub for innovation. 

Speaking to reporters in Puerto Rico, where he is attending the Somos Puerto Rico Conference, an annual convention that attracts Albany lawmakers, Adams reiterated a pledge he made this week to receive his first three paychecks in Bitcoin. The vow came after Miami Mayor Francis Suarez proclaimed that he would take his next paycheck in Bitcoin, and the friendly rivalry that has ensued has provided a platform for both men to voice their crypto ambitions while serving as a challenge to other city leaders as well. 

“This is a clear signal from me that I am not playing. We have become too afraid as a city we have become a culture of ‘no.’ We turn down everything,” he said. “This used to be a city where we led from the front.”

Adams said he will have to convert his dollar paycheck into Bitcoins, as there’s no automatic way for him to receive payment in the digital currency. However, he said he would like to “examine” mechanisms that would allow for direct Bitcoin payments, “so New Yorkers have a choice of how they want to receive their paychecks.”