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New York City Mayor-elect Says He'll Take His First Three Paychecks in Bitcoin
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New York City mayor-elect says he'll take his first three paychecks in Bitcoin [cnet.com]:
Spurred by a tweet from the mayor of Miami [twitter.com], New York City Mayor-elect Eric Adams told followers [twitter.com] Thursday that he plans to take his first three mayoral paychecks in Bitcoin.
"NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries," Adams tweeted. "Just wait!
It's a high-profile embrace of digital currency at a time when regulators in the US, including in New York City [cnet.com], are heightening scrutiny of cryptocurrency exchanges. Last month, New York state Attorney General Letitia James asked two lending platforms to cease activities [reuters.com] after winning a court order forcing the closure of the cryptocurrency exchange Coinseed.
Still, Bitcoin may be on the rise in the Big Apple. On Oct. 19, ProShares, an investment management firm, launched the Bitcoin Strategy ETF [cnet.com], the first Bitcoin-linked exchange fund to be listed on the New York Stock Exchange.
The Adams campaign didn't immediately respond to a request for additional comment.
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NYC Mayor-elect vows to take first salary payments in Bitcoin [aljazeera.com]:
New York City Mayor-elect Eric Adams said he would take his first three paychecks in Bitcoin when he takes over City Hall in January.
“NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries,” he said on Twitter on Thursday.
In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!
— Eric Adams (@ericadamsfornyc) November 4, 2021 [twitter.com]
Adams, a Democrat, has said he wanted to turn New York into a crypto-friendly city and that he wants to explore a NYC Coin similar to Miami’s. In an interview on Bloomberg Radio after being elected mayor on Nov. 2, he wagered a “friendly competition” with the mayor of Miami, who was the first to set up a so-called CityCoin cryptocurrency.
“He has a MiamiCoin that is doing very well — we’re going to look in the direction to carry that out,” Adams said in a Wednesday interview on Bloomberg Radio. He vowed to “look at what’s preventing the growth of Bitcoin and cryptocurrency in our city.”
