According to ShibDaily, New York City Mayor Eric Adams recently addressed the media, touching on his Bitcoin holdings and legal issues. During an interview on December 3, following an event at the American LGBTQ+ Museum, Adams was asked about potential collaboration with Tesla and SpaceX CEO Elon Musk. He expressed enthusiasm about working with Musk and shifted the conversation to his Bitcoin earnings, emphasizing that people should not fear the cryptocurrency. Adams humorously reminded reporters of their skepticism when he first received Bitcoin, saying, "Remember y’all laughed at me when I first got my Bitcoin. Who’s laughing now?"
When Adams took office in 2022, he announced he would receive his first three paychecks in Bitcoin, responding to a social media challenge for officials to earn a crypto-based salary. At that time, Bitcoin was valued at approximately $61,000. His decision mirrored Miami Mayor Francis Suarez's move to accept his first paycheck in Bitcoin after reelection in 2021. Since Adams' announcement, Bitcoin's price has surged to about $96,000, marking a significant increase of around 57%.
In 2022, Adams criticized a state law imposing a two-year moratorium on proof-of-work mining operations using non-renewable energy, arguing it hindered technological innovation and digital economy growth. However, Adams now faces serious legal challenges. In September 2024, he was indicted on multiple corruption charges by federal authorities. The indictment alleges that Adams conspired to receive illegal campaign contributions from foreign nationals, including Turkish officials, and committed wire fraud and bribery. If convicted on all counts, Adams could face a lengthy prison sentence.
