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-0.13%Reading
New York City mayor Eric Adams, known for his humility and low profile, delivered his latest message to his haters this week—this time on the subject of Bitcoin.
“Remember when y’all laughed at me when I first got my Bitcoin?” Adams said to a room of reporters during a press conference on Tuesday. “Who’s laughing now?”
Adams then laughed heartily, before adding: “Go look at my Bitcoin now.”
In early 2022, Adams took his first three paychecks as New York City mayor in Bitcoin and Ethereum—a sum of crypto that would have equaled roughly $32,000 at the time, according to publicly available data.
Since then, Bitcoin has more than doubled in price, to over $95,000 at writing. Ethereum has climbed some 40% in the same period, to $3,781.
“You all mocked me,” Adams said Tuesday, before adopting a falsetto voice to imitate such alleged naysayers: “‘You’re taking your first three paychecks in Bitcoin, what’s wrong with you?’”
“Now you wish you would have done it,” the mayor said in his own voice, before laughing again.
“You all mocked me, ‘You’re taking your first 3 paychecks in #Bitcoin, what’s wrong with you?’ Now you wish you would have done.”
NYC Mayor Eric Adams
— Steve | Crypto.com (@skalifowitz) December 4, 2024
As with many subjects, Adams' relationship to crypto is not without controversy. A year after taking a chunk of his salary home in BTC and ETH, the mayor landed in hot water for failing to disclose his crypto holdings in a mandatory report filed with the city’s Conflict of Interest Board.
Since then, Adams’ legal troubles have increased dramatically. In September, the politician became the first mayor in New York City’s history to be indicted on criminal charges while in office.
The U.S. Department of Justice (DOJ) has accused him of receiving luxury travel accommodations and other perks from Turkish government officials and businessmen in exchange for favorable treatment of the country’s interests in New York.
There's a lot of Bitcoin holders lining up to cash in on the huge gains BTC saw last month. That kind of selling pressure could cause some turbulence in markets, according to BRN analyst Valentin Fournier. "The Bitcoin spot sell wall currently exceeds 4,000 BTC and shows no signs of diminishing, as Bitcoin's price remains relatively stagnant this week," he wrote in a note shared with Decrypt. "This sell wall serves as a key indicator of the selling pressure that needs to be overcome for Bitcoin...
In the months following his indictment, Adams has adamantly refused numerous calls for his resignation. He also begun cozying up to fellow crypto advocate Donald Trump, who will assume the U.S. presidency—and control over the DOJ—on January 20.
"I made it clear that I'm not going to be warring with this administration. I'm going to be working with this administration," Adams, a Democrat, said of Trump during Tuesday’s press conference.
Edited by Andrew Hayward
The creator of the Bored Ape Yacht Club wants to take control of ApeCoin, after years of distancing itself from the Ethereum token created for its ecosystem. In a new ApeCoin Improvement Proposal idea, Yuga Labs CEO and co-founder Greg Solano (aka Garga) outlined potential plans to disband the ApeCoin DAO, eliminating all governance rights for APE token holders in the process. The idea, which started gaining attention on social media earlier this week, would transition all assets and responsibil...
A new dad coached his wife through the birth of their first child on Tuesday, a baby girl they named Solana—all while joined by a group of crypto degens on the livestreaming meme coin launchpad Pump.fun, who were there, naturally, to trade the token commemorating the event. “PUUUUUSHHHH,” traders of the PREGOWIFE token spammed the chat while the woman was hours into labor. Those watching the stream could only see the ceiling of the hospital room at the time but could hear everything. Viewers tol...
The issuer for the Truth Social Bitcoin ETF submitted an application for the fund to the U.S. Securities and Exchange Commission on Thursday. The S-1 registration statement arrives two days after the New York Stock Exchange Arca submitted a 19b-4 rule change to list the exchange-traded fund. Yorkville America Digital will manage the the fund, if it receives approval. That’s the same company through which the Trump Media & Technology Group and Crypto.com plan to debut a suite of “America firs...
