New York City’s new mayor, Eric Adams,
plans to convert his irst paycheck into two
cryptocurrencies, which he has been hyping as a
potential economic engine for the city.
The Democrat’s oice announced that Adams’
irst salary payment will be deposited with
Coinbase, an online platform used for buying
cryptocurrency, and then converted into
Ethereum and Bitcoin.
“New York is the center of the world, and we
want it to be the center of cryptocurrency and
other inancial 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.”
The city noted in its news release that federal
labor rules bar the city from paying employees
in cryptocurrency, but that any worker
paid in U.S. dollars can use an exchange to
buy cryptocurrency.
NYC’S MAYOR
INVESTS FIRST
PAYCHECK IN
CRYPTOCURRENCY