Adams’ History With Crypto
Eric Adams has long been a supporter of crypto assets, describing himself as crypto-friendly even before assuming office as New York mayor. Adams recalled converting his first three paychecks into Bitcoin and Ethereum, and people laughed at him for making such a move.
“All I can say is, who’s laughing now?” he quizzed, adding. “We’re seeing how this industry is growing, and since then, the number of crypto and blockchain startups that have made New York City home has skyrocketed.”
The New York mayor, however, believes that while the crypto industry views mass adoption as inevitable, balanced regulation is needed that is strong enough to protect investors but not so stringent that it impedes innovation and growth.
“Our state should embrace the crypto and blockchain-friendly environment we have in New York City,” he quipped. “The right regulations can provide safety, but overregulation could hurt the industry — and we don’t want that.”
Meanwhile, Adams is currently running for reelection in the 2025 mayoral election.
