Three years before cryptocurrency became a talking point in the United States presidential election for the first time, a different crypto-focused race was brewing in New York City to determine who would replace outgoing Mayor Bill DeBlasio.
Democrat Eric Adams was squaring off against Republican Curtis Sliwa, and both were campaigning on the promise of being pro-crypto mayors. Adams had recently defeated Andrew Yang, another crypto proponent, in the Democratic Party primary.
On the campaign trail, Adams promised to make NYC the “center of Bitcoins.” He was elected mayor in November 2021, after which he continued to pledge the city would become “the center of the cryptocurrency industry” and argued cryptocurrency should be taught in schools.
Nearly three years after he was elected mayor, Adams was indicted by the Federal Bureau of Investigation and charged with “bribery, campaign finance, and conspiracy offenses” related to alleged criminal activities that spanned nearly a decade. Seven senior officials have resigned from his administration, and several others linked to his administration have been charged or are reportedly under investigation.
With his political career now at risk, whether Adams left a positive impact on crypto in NYC depends on who you ask. His administration defended his record, but those on the ground say nothing impactful has actually materialized. At the same time, many in the crypto community are increasingly concerned about the industry’s association with controversial figures like Adams.
Eric Adams’ record on crypto
Fresh off his election win, Adams entered into a friendly rivalry with crypto-friendly Miami Mayor Francis Suarez, who had pledged to receive one of his paychecks 100% in Bitcoin (BTC). In response, Adams said he would take his first three paychecks in crypto — a promise he later fulfilled with the help of Coinbase.
Promise made. Promise kept. pic.twitter.com/rSafDZDViN
— Mayor Eric Adams (@NYCMayor) January 21, 2022
NYC elected officials are required to complete a financial disclosure form every year that asks, among other questions, whether they own any…
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