Newly elected Mayor of New York City Eric Adams receives first paycheck in crypto via Coinbase’s Direct Deposit, vows to make the Big Apple „the center of cryptocurrency and other financial innovations.“
Today is a day of firsts for the newly elected mayor of New York City. Earlier in the day, Mayor Eric Adams received his first paycheck in cryptocurrency — specifically, in a combination of Bitcoin and Ethereum coins — becoming the first mayor of the Big Apple to have his check converted to crypto. Unlike those grand symbolic gestures associated with mayors — be it breaking ground with a golden shovel, posing with a 24-karat gold key, or cutting a ribbon with an oversized pair of silver-plated scissors — Hizzoner’s payout is symbolic for a bigger reason: There is hope that an innovation like digital crypto payments will give a shot in the arm for job creation, the economy, and fostering tech talent. And with New York City still regarded as the top financial center of the world, the gesture is apropos. „This step taken by the mayor provides a leading example of how we can empower people through tech with a more diverse set of options to manage their finances,“ said Matt Fraser, CTO of New York City, in a press release from the Mayor’s office on Thursday. No, Adams didn’t get paid today with a sack of Ethereum and Bitcoins like the ones in stock photos.
