New York Mayor Eric Adams announces the first Crypto NYC Conference, aiming to turn the city into the 'global crypto capital,' competing with Silicon Valley. Will New York lead the blockchain wave? Let's analyze in detail.
Crypto NYC Conference: Big Ambitions
At the press conference, Mayor Adams, along with June Ou (co-founder of Figure Firm) and Richard Hecker (CEO of Traction and Scale), announced the Crypto NYC Conference on May 20, just two months after a similar event by Trump at the White House. Adams asserted #Newyork is emerging as a competitor to Silicon Valley in blockchain innovation, emphasizing the potential of this technology in expanding financial inclusion, especially for communities excluded from the traditional banking system.
Conference to promote public-private cooperation, creating a 'cross-pollination of ideas and methods' to guide the crypto industry, with the participation of innovators, keynote speakers, focusing on economic development and serving the public through digital assets.
Adams and Crypto: A Long Journey
Adams reiterates his journey with crypto since 2022, when he converted his first three paychecks into Bitcoin and Ethereum, which were once mocked but now prove his vision: 'Who’s laughing now? The number of crypto and blockchain startups in New York has skyrocketed.' He emphasizes the city focuses on long-term value, not chasing trends like memecoins, and calls for balanced regulations – strong enough to protect investors but not stifling innovation.
Political Context and Connections with Trump
Adams, who faced a federal corruption investigation over allegations of receiving illegal contributions and benefits from Turkish officials, was not prosecuted in April 2025 under the $TRUMP administration, despite controversy over political interference. He has been close to Trump since January, when they met at Mar-a-Lago, and Trump has hinted at a potential pardon. Adams will run as an independent, skipping the Democratic primary, a move that could attract support from crypto super PACs – a large force backing Trump in 2024.
Impact on the Crypto Market
This event brings many positive signals:
Increasing confidence: Crypto fund inflows reached $3.4 billion last week, Bitcoin ETF attracted $1.8 billion, and are projected to accumulate $330 billion into Bitcoin by 2029.
Promoting innovation: New York can compete with California, supporting projects like Haedal (TVL $200 million).
Altcoin growth: Bitcoin ($102,000), $XRP ($2.31), and Solana ($146) benefit from the trend.
Future Prospects
If the Crypto NYC Conference succeeds, New York could lead the blockchain industry in the next 1-2 years, especially with Trump supporting crypto. However, clear legal frameworks are needed to balance growth and protect investors.
Conclusion: Will New York Become the 'Crypto Empire'?
Mayor Eric Adams announces the Crypto #CryptoNYC , aiming to make New York the 'global crypto capital,' competing with Silicon Valley. With public-private collaboration and balanced policies, the city promises to lead blockchain, opening significant opportunities for investors. Stay tuned to catch the trend!
Risk Warning: Crypto investments carry high risks due to price volatility and legal uncertainty. Please consider carefully before participating.
