NYC Mayor Eric Adams Converts First Paycheck to Bitcoin and Ether via Coinbase

Share This Post

NYC Mayor Eric Adams Converts First Paycheck to Bitcon and Ether via Coinbase

The mayor of New York City, Eric Adams, has received his first paycheck in bitcoin and ether via Coinbase. “Promise made, promise kept,” the mayor said, referring to his promise to take his first three paychecks in cryptocurrency.

Mayor of New York City Takes Paycheck in Cryptocurrency With the Help of Coinbase

New York City Mayor Eric Adams has made good on his promise about getting paid in bitcoin. In a video he posted on Twitter Thursday, the mayor said:

Promise made, promise kept. Took my first check in bitcoin and ethereum.

“This is a reason to highlight. New York must be the center for innovation and new ideas. I want my young people to thrive in every industry,” the mayor emphasized.

The official website of the city of New York also announced Thursday that Mayor Adams will “receive [his] first paycheck in cryptocurrency.”

The mayor’s first paycheck “will automatically be converted into cryptocurrency via Coinbase … before funds are made available,” the announcement details, adding that “The salary will be converted to ethereum and bitcoin.”

Mayor Adams announced in November last year that he would take his first three paychecks in bitcoin. However, the city explained:

Due to U.S. Department of Labor regulations, New York City cannot pay employees in cryptocurrency. By using a cryptocurrency exchange, anyone paid in U.S. dollars can have funds converted into cryptocurrency before funds are deposited into their account.

Mayor Adams commented Thursday: “New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations … Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe.”

He also said in November that he wants schools to teach crypto, noting that bitcoin is a new way to pay for goods and services.

Earlier this month, when the price of BTC fell to the $41K level, the mayor said, “Sometimes the best time to buy is when things go down, so when they go back up, you’ve made a good profit.”

What do you think about NYC Mayor Eric Adams converting his paycheck into cryptocurrency? Let us know in the comments section below.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Lawsuit News: Ex-SEC Attorney Says ‘No Settlement’ Because Gensler won ‘Half The Case’

The post XRP Lawsuit News: Ex-SEC Attorney Says ‘No Settlement’ Because Gensler won ‘Half The Case’ appeared first on Coinpedia Fintech News XRP’s price surged massively

Bitcoin Price And Satoshimeter: Analyst Says $100,000 Is Far From The Peak

The Bitcoin price rally towards the $100,000 mark is the talk of the crypto industry Notably, the Bitcoin price has reached new all-time highs for four consecutive days on the path to this $100,000

Pro-Crypto Shift at SEC Begins as Anti-Crypto Commissioner Steps Down After Gensler Resigns

The SEC’s anti-crypto grip falters as Commissioner Lizárraga and Chair Gensler exit, clearing the path for a pro-crypto revolution in US markets SEC’s Anti-Crypto Stance Wavers as Another Key

Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance

Despite heightened expectations for the Bitcoin price to hit the $100,000 milestone, a crypto analyst has surmised that this key target could present psychological resistance for the pioneer

XRP Price Prediction For 24 November

The post XRP Price Prediction For 24 November appeared first on Coinpedia Fintech News Ripple’s XRP is down by more than five percent in the last 24 hours and is trading above the $150 level The

Is Bitcoin Going to Crash After Hitting $100K?

The post Is Bitcoin Going to Crash After Hitting $100K appeared first on Coinpedia Fintech News Bitcoin has cleared major resistance levels at $70,000, $85,000, and $99,000 The exponential moving