Eric Adams and New York CTO Matthew Fraser spoke at a press conference ahead of the crypto summit on May 20.
The mayor promised to ease regulations, establish a dialogue with businesses, and make New York the crypto capital of the world.
In 2022, he received his salary in bitcoins for a while and is a supporter of the industry.
New York Mayor Eric Adams confirmed his intention to make the city the “crypto capital of the world” during a press conference on May 12, 2025. He also emphasized that he is focused on the long-term value of blockchain rather than temporary trends.
In addition to Adams, the Chief Technology Officer (CTO) of the state, Matthew Fraser, participated in the press conference. The event took place at Gracie Mansion, the mayor's residence. Here, on May 20, 2025, the first crypto summit in New York's history will take place.
During his speech, Adams noted that the world is in the midst of a technological revolution, an important part of which is blockchain. The mayor called crypto assets a new form of finance that can, among other things, address the issue of isolating certain communities from the banking sector and provide them with tools to save money.
“My goal remains the same as it was on my first day in office: to make New York the crypto capital of the world. And as you remember, I supported this field long before all my fellow mayors. I was the first American mayor whose first three salaries were converted to cryptocurrency back in 2022. Many laughed at me. But now all I can say is, who’s laughing now?”
Adams also announced the participation of Figure Firm co-founder June Ou and Traction and Scale CEO Richie Heckler in the upcoming summit.
“We will work with our technology companies, from startups to global giants, to create a friendly environment that helps them succeed here in New York,” emphasized the mayor.
He also noted that he is focused on the long-term value of blockchain and crypto assets, rather than temporary trends. Among the latter, he specifically mentioned meme coins.
Fraser also remarked that the applications of blockchain extend far beyond market speculation. Specifically, according to him, it can democratize access to various large datasets, such as birth and death information.
After that, the mayor answered a series of press questions. One of them concerned the extremely strict position of the New York Department of Financial Services (NYDFS). Adams replied that city authorities would not want excessive regulation to become an obstacle to innovation, but did not clarify whether there would be changes in the agency's policy.
Mayor Adams' thesis about the crypto capital resonates with the plans of U.S. President Donald Trump. The latter has also expressed intentions to bestow such status on the country as a whole during his election campaign.