NYC Mayor Eric Adams Will Convert his First Paycheck into Crypto

Share Us

1118
NYC Mayor Eric Adams Will Convert his First Paycheck into Crypto
22 Jan 2022
5 min read

News Synopsis

The mayor of New York City, Eric Adams is planning to convert his first paycheck as the highest official of the city in cryptocurrency. He will convert the salary into bitcoin and ether from the top US crypto exchange, Coinbase.

The New York City mayor announced in November last year that he will receive his first three paychecks in bitcoin. He will be paid in US dollars and will convert them into crypto before depositing them into his account as the regulation does not allow the city to pay the employees in crypto.

Eric Adams has been vocal about how he wants to transform New York City into a bitcoin hub and compete with Miami for being the epicenter of the US crypto community. 

Other than Eric Adams, the mayor of Miami, Francis Suarez, who is also a crypto enthusiast has announced that he would convert his first three paychecks into crypto as well.

TWN In-Focus