Upon the announcement that Francis Suarez, mayor of the City of Miami, took a $5.25 million disbursement from the MiamiCoin wallet, Cointelegraph inquired about how the city will use these funds.
Mayor Suarez pointed to the affordable "housing crisis" that Miami is facing in light of rising rent prices that don't align with the area's median income. He revealed that the City of Miami has been working closely with the CityCoins team since the beginning of the year to address this issue.