Eric Adams, who became mayor of New York City in January, has reportedly stood behind a campaign pledge to make the city a crypto hub, despite a drop in the price of many tokens in 2022.
According to a Dec. 12 report from Slate, Adams suggested he still wanted New York City to be the “center of the cryptocurrency industry” — one of the plans he announced during his mayoral run in November 2021. The New York City mayor reportedly converted the first of his three paychecks while in office into Bitcoin (BTC) and Ether (ETH) in January and February, prior to the crypto market downturn.