NYC mayor Eric Adams receives first paycheck in the form of BTC and ETH

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Eric Adams, the mayor of New York City, made good on a previous pledge by receiving via automatic conversion his first paycheck in the form of cryptocurrency.

According to a Thursday morning statement from the mayor's office, Adams' paycheck was converted into BTC and ETH. 

"New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations," Adams said in a statement. "Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe."

Per the mayor's office, the paycheck was converted via Coinbase. 

Adams pledged to make the city more crypto-friendly during his campaign for mayor, though as recently explored by The Block's Aislinn Keely, there are limits to what the NYC mayor can do in terms of specific complaints about state-level regulatory factors in play. Still, industry members told The Block that a visibly pro-crypto mayor will prove beneficial in the long-run. 

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May 5, 2022, 3:17PM UTC