Eric Adams Strengthens New York City’s Crypto Commitment Ahead of Blockchain Summit
Jakarta, Pintu News – New York City Mayor Eric Adams has reiterated his support for the crypto industry by announcing strategic partnerships ahead of the city’s blockchain summit scheduled for May 20, 2025. The move aims to make New York a center of digital innovation and attract more fintech companies to the city.
Strategic Partnerships to Drive Digital Innovation
In a press conference on May 12, 2025 at Gracie Mansion, Adams announced collaborations with leading figures in finance and technology. June Ou, founder of financial services company Figure, and Richie Hecker, CEO of private equity firm Traction and Scale, were appointed as advisors to assist the city in developing strategies related to digital assets.
Adams emphasized that the main focus is on the long-term value of these technologies to society, rather than simply following a momentary trend. He stated, “If you’re in crypto, blockchain, Web3, or fintech, New York City is open for business.”
Also Read: Bitcoin Approaches Rp1.74 Billion: Trend Analysis and Challenges May 2025
History of Adams’ Support of Crypto
Since taking office in January 2022, Adams has shown a commitment to crypto adoption. He announced that his first three salaries would be received in Bitcoin , a symbolic move to show his support for the technology.
In his 2023 financial report, Adams reported Bitcoin holdings worth between $5,000 and $54,999.99, although he stated the value might be higher in December 2024. These moves indicate Adams’ efforts to make New York the center of the cryptocurrency industry.
Controversy and Political Support
Adams had faced corruption charges related to alleged illegal donations from the Turkish government. However, the US Department of Justice led by President Donald Trump decided to drop the case in April 2025. As a token of gratitude, Adams visited the White House on May 9, 2025 to express his appreciation to President Trump for his support during the 2024 campaign.
While it is unclear whether the announcement on May 12 was directly related to the meeting, the move shows the complex political relationships behind crypto adoption efforts in New York.
New York City Blockchain Summit
As part of this initiative, Adams announced that New York City will host a blockchain summit on May 20, 2025. The event is expected to be a platform to discuss the latest developments in blockchain and crypto technology, as well as strengthen New York’s position as a center for digital innovation.
By engaging various stakeholders, including tech companies, regulators, and the community, the summit aims to shape the future of the crypto industry in the city.
Conclusion
The steps taken by Mayor Eric Adams demonstrate a strong commitment to making New York City a center of innovation in crypto and blockchain technology. Despite the challenges and controversies, these efforts reflect a long-term vision to foster the growth of the digital economy and attract investment in the financial technology sector.
Also Read: 3 Altcoins that Catch Analysts’ Attention Amid Positive Market Sentiment: Significant Growth!
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Reference:
- Turner Wright / Cointelegraph. NYC Mayor doubles down on crypto push ahead of city summit. Accessed May 13, 2025.
- Featured Image: The Street
