Skip to content
CityLab
+ Markets

The Crypto Ambitions of New York’s Next Mayor — and What Could Stop Him

Eric Adams’s embrace of crypto and his promise to make the city the center of the industry have generated excitement. He’s got his work cut out.

New York Mayor-elect Eric Adams says he is “not playing” when it comes to supporting crypto and innovation.

New York Mayor-elect Eric Adams says he is “not playing” when it comes to supporting crypto and innovation.

Photographer: Jeenah Moon/Bloomberg
From

New York City Mayor-elect Eric Adams is already excelling at one major aspect of the job — cheerleading — at least as far as cryptocurrency is concerned. 

Since his Nov. 2 victory, Adams has been selling New York as a crypto-friendly hub. The Brooklyn borough president and former cop has the support of crypto heavyweight Mike Novogratz of Galaxy Digital. He has opened up a jokey competition with fellow crypto-enthusiast and Miami Mayor Francis Suarez; suggested schools teach cryptocurrency and its technology; pledged to explore a mechanism to allow New Yorkers to be paid in virtual currencies; and even vowed to take his own first three paychecks as mayor in Bitcoin.