Key Takeaways
- In a press conference ahead of the New York City Crypto Summit, Mayor Eric Adams reaffirmed his commitment to making the city a leader in crypto.
- Adams stressed the city’s crypto strategy was focused on long-term value and innovation.
- The city is partnering with financial leaders to advise on digital asset initiatives.
New York City Mayor Eric Adams has denounced the influence of meme culture in the crypto space ahead of the NYC Crypto Summit.
Speaking at a press conference on Monday, May 12, Mayor Adams announced new partnerships with financial firms to promote the growth of digital assets in the city.
Mayor Turns Away From Crypto Meme Culture
At the press conference, Adams commented on the rise of meme culture within the crypto space.
“We are focused on the long-term values of these technologies for our city and its people, not chasing memes or trends,” Adams said.
He added that the city aimed to build a sustainable future for crypto and blockchain technologies.
The mayor also revealed plans to convene industry leaders to guide the city’s strategy.
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“We’re bringing together leaders from across the industry to advise us on the next steps and how we can move forward in the right direction,” he said.
“For those involved in crypto, blockchain, Web3, or fintech—New York City is open for business,” he added.
Strategic Partnerships
Adams announced the city had partnered with June Ou, founder of the financial services company Figure, and Richie Hecker, CEO of the private equity firm Traction and Scale.
These financial leaders will advise the city on economic development initiatives and public service opportunities involving digital assets.
“They’re joining our world-class roster of crypto talent and resources in New York City,” Adams said.
“We’re committed to working with tech companies, from startups to global giants, to create a business-friendly environment that fosters success,” he added.
A Crypto-Forward City
Adams reaffirmed his longstanding support for crypto, noting he was the first U.S. mayor to convert his first paychecks into Bitcoin and Ether.
“I was the first American mayor to have my initial three paychecks converted into crypto way back in 2022,” he said. “Many people laughed at me, and the only thing I can say is who’s laughing now?”
According to the mayor, the number of crypto and blockchain startups in the city has “skyrocketed” since the beginning of his term.
The NYC Crypto Summit, first announced last month, will gather leading innovators and influencers to help shape the city’s future in the digital economy.
The summit “will help us chart our path forward,” Adams said.
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