Key Points
- New York City is intensifying its push to become a central hub for cryptocurrency and blockchain innovation under Mayor Eric Adams.
- The global crypto market has surged past $3.4 trillion amid growing political support and regulatory optimism.
New York City is making strides to reclaim its position in the global crypto race. The city is laying the groundwork to become a central hub for digital asset innovation.
New York Mayor Advocates Crypto Innovation
Mayor Eric Adams, known for his advocacy of blockchain adoption, has renewed his commitment to bring crypto companies back to the city. During a press conference at Gracie Mansion on May 12th, Adams expressed his intent to foster a more welcoming environment for both startups and established tech giants in the digital asset space.
Adams stated, “We are focused on the long-term values of these technologies for our city and its people, not chasing memes or trends.” He unveiled strategic collaborations with key financial figures, including June Ou of Figure and Richie Hecker of Traction and Scale, who will serve as advisers in shaping NYC’s digital asset roadmap.
Adams’ Vision and Global Market Conditions
Adams’ vision is reminiscent of former President Donald Trump’s calls to make the U.S. the global capital of digital assets. Since taking office in January 2022, Adams has made crypto a significant part of his political identity, even converting his first three paychecks into Bitcoin.
This comes as the global crypto market is experiencing a resurgence. According to CoinGecko, the total market cap has reached $3.42 trillion, a 3.3% increase in the past 24 hours. Despite Bitcoin dipping 2.4% to $102,782, the overall outlook remains positive, fueled by improving regulations and growing political support for digital assets both in New York and nationwide.
