The US President is Determined to Make His City a Crypto Hub: He Spoke at the First Summit! - Coin Bulletin

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New York Mayor Eric Adams reiterated the goal of making New York the world's crypto capital at the city's first crypto summit.

At a press conference held at Gracie Mansion, Mayor Adams stated that New York's first crypto summit, scheduled for May 20, is one of the cornerstones of the city's goal to become a global crypto and blockchain hub. Adams emphasized that they are focused on the long-term benefits that these technologies will provide to the city's residents, saying, "Our aim is not to chase fads or temporary trends."

Adams emphasized that crypto and blockchain technologies would provide significant advantages to populations that are not sufficiently benefiting from the banking system. He stated that groups facing difficulties in accessing traditional financial systems would be able to save more easily thanks to these innovative technologies.

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New York's Chief Technology Officer Matt Fraser stated during the meeting that the benefits of blockchain are not limited to the financial sector. According to Fraser, blockchain technology could initiate a new era in access to information by providing democratic access to critical information such as birth and death records. Mayor Adams emphasized that the exchanges of ideas that will emerge at the upcoming crypto summit are important for the crypto sector in the city to move in the right direction. He defined the goal of the summit as "accelerating the development of the sector by facilitating the cross-interaction of ideas."

Mayor Adams addressed technology companies, stating that the city is extremely open to companies operating in this sector and called for investment by saying, "If you are in the crypto, blockchain, Web3, or fintech sectors, New York is ready for you."

Known for his crypto-friendly attitude, Adams had already identified himself as a "crypto supporter" even before taking office, and even received his first three salaries in Bitcoin (BTC) and Ethereum (ETH) in 2022.

On the other hand, Eric Adams, who was elected from the Democratic Party, is running again as an independent candidate in the 2025 municipal elections. Last month, the five separate charges in the federal investigation against Adams were dropped by the court at the request of the Justice Department affiliated with the Trump administration.