Cryptocurrencies

NYC Mayor Adams to Convert First Paycheck to Bitcoin, Ethereum via Coinbase

Paycheck to be converted into crypto through Coinbase
Adams vows to turn New York into a crypto-friendly hub

Eric Adams
Photographer: Stephanie Keith/Bloomberg

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By Yueqi Yang and Shelly Banjo

January 20, 2022 at 2:57 PM UTC

Updated on

January 20, 2022 at 9:30 PM UTC

This article is for subscribers only.

New York City Mayor Eric Adams confirmed his first paycheck -- which arrives on Friday -- will be converted into Bitcoin and Ethereum.

Coinbase Global Inc., the largest U.S. cryptocurrency exchange, will be handling the conversion through its direct deposit feature, which allows eligible users to automatically transfer a portion or the entirety of their paycheck into a crypto wallet.