On Wednesday, New York City Mayor Eric Adams was indicted on federal criminal charges following a lengthy corruption probe that started over two years ago.
The indictment, which remains sealed, makes Adams the first sitting city mayor to face such charges, according to a New York Times report.
Launched in 2021 by the FBI and federal prosecutors in Manhattan, the federal probe focuses on Adams' 2021 mayoral campaign and possible connections to illegal foreign donations.
Specifically, investigators are examining whether Adams and his campaign received illicit contributions from the Turkish government and pressured New York Fire Department officials to approve a new high-rise Turkish consulate, bypassing safety concerns.
The New York City Mayor's Press Office did not immediately return a request for comment.
NYC Mayor Eric Adams Putting First Paycheck into Bitcoin, Ethereum
Today, Eric Adams, the recently sworn-in Democrat mayor of New York City, has confirmed that his first paycheck will be converted into crypto. It’s not only Bitcoin he is going to receive either. Per the announcement, Adams is also set to get a part of his salary in Ethereum, the world’s second-largest cryptocurrency by market cap. “New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations,” Adams said in a statement. Adams, the former...
Adams, who campaigned on a platform of reform, innovation, and pro-crypto policies, has denied any wrongdoing. In response to the indictment, Adams framed the charges as a politically motivated attack and noted his history of fighting injustice.
“I will fight these injustices with every ounce of my strength and my spirit. If I’m charged, I know I am innocent,” Adams said in a video statement.
He has requested an immediate trial, expressing confidence in his innocence and stating that New Yorkers deserve transparency.
Federal authorities are also looking into possible benefits Adams received, such as flight upgrades from Turkish Airlines.
Governor Kathy Hochul has the authority to remove Adams from office if the charges impair his ability to govern. The indictment also casts doubt on Adams’ re-election chances in 2025, as the legal proceedings and federal investigations are expected to dominate public discussion.
Adams’ support for cryptocurrency has been a defining aspect of his tenure. Shortly after taking office in January 2022, he pledged to receive his first three paychecks in Bitcoin and Ethereum.
NYC Mayor Eric Adams Wants New York Governor to Veto State’s Bitcoin Mining Ban
New York City's Bitcoin-friendly mayor Eric Adams is strongly opposing a recent bill passed by the New York State senate to impose a two-year moratorium on new fossil fuel-powered proof of work (PoW) crypto mining operations. Speaking to Crain’s on Monday, Adams told interviewer Brian Pascus that he plans to ask Governor Kathy Hochul to “consider vetoing the bill that is going to get in the way of cryptocurrency upstate.” For Adams, cryptocurrency is an undeniable part of the state’s economy th...
The ongoing inquiry against him remained largely secret until late 2022, when an FBI search of the Brooklyn home of Adams' chief fundraiser, Brianna Suggs, brought it to light.
Agents seized multiple digital devices, including laptops and iPhones, as well as documents labeled "Eric Adams." Suggs has not been accused of any wrongdoing.
The probe has also involved several top officials in Adams’ administration. Earlier this month, federal agents seized phones from multiple city leaders, including Edward Caban, the police commissioner, and David Banks, the school’s chancellor.
Both officials resigned shortly after, leaving Adams’ administration in turmoil as it faced intensified scrutiny. The indictment now places additional pressure on Adams, who must face the legal challenges while managing city affairs.
Adams has long been a crypto advocate, calling Bitcoin a "disruptive technology" as early as 2015. During his mayoral campaign, he pledged to make New York a hub for life sciences, cybersecurity, and digital assets.
Edited by Sebastian Sinclair
