Mayor Adams pushes for New York’s rise as a crypto hub
With a growing blockchain sector, New York is now challenging Silicon Valley’s dominance in crypto innovation.
New York City Mayor Eric Adams has reaffirmed ambition to turn the city into the world’s leading crypto capital. At a press conference ahead of the 20 May NYC Crypto Summit, Adams highlighted New York’s growing blockchain sector and its role in boosting financial inclusion.
The mayor appeared alongside leading tech figures, including June Ou from Figure Firm and Richard Hecker from Traction and Scale. Adams pointed to his 2022 move to convert his first three payslips into Bitcoin and Ethereum as proof of his early support for crypto.
He also positioned New York as a serious competitor to Silicon Valley when it comes to innovation and startup growth in the crypto space.
Adams said the summit would foster public-private cooperation to shape digital assets through balanced rules, focusing on long-term blockchain use over short-lived trends like memecoins.
Without naming them directly, his remarks may also appeal to crypto super PACs, as he prepares for a possible independent re-election campaign following the dismissal of a federal investigation.
Would you like to learn more about AI, tech and digital diplomacy? If so, ask our Diplo chatbot!
