New York City Strengthens Crypto Commitment Ahead of Blockchain Summit
New York City Mayor Eric Adams has reiterated his support for the crypto industry by announcing strategic partnerships ahead of the city’s blockchain summit scheduled for May 20, 2025. The move aims to make New York a center of digital innovation and attract more fintech companies to the city.
Strategic Partnerships to Drive Digital Innovation
In a press conference on May 12, 2025 at Gracie Mansion, Adams announced collaborations with leading figures in finance and technology. June Ou, founder of financial services company Figure, and Richie Hecker, CEO of private equity firm Traction and Scale, were appointed as advisors to assist the city in developing strategies related to digital assets.
Adams emphasized that the main focus is on the long-term value of these technologies to society, rather than simply following a momentary trend. He stated, “If you’re in crypto, blockchain, Web3, or fintech, New York City is open for business.”
History of Adams’ Support for Crypto
Since taking office in January 2022, Adams has shown a commitment to crypto adoption. He announced that his first three salaries would be received in Bitcoin, a symbolic move to show his support for the technology. In his 2023 financial report, Adams reported Bitcoin holdings worth between $5,000 and $54,999.99, although he stated the value might be higher in December 2024.
New York City Blockchain Summit
As part of this initiative, Adams announced that New York City will host a blockchain summit on May 20, 2025. The event is expected to be a platform to discuss the latest developments in blockchain and crypto technology, as well as strengthen New York’s position as a center for digital innovation. By engaging various stakeholders, including tech companies, regulators, and the community, the summit aims to shape the future of the crypto industry in the city.
The steps taken by Mayor Eric Adams demonstrate a strong commitment to making New York City a center of innovation in crypto and blockchain technology. Despite the challenges and controversies, these efforts reflect a long-term vision to foster the growth of the digital economy and attract investment in the financial technology sector.
