New York City Mayor Eric Adams attends a press conference on gun violence in the Chief Medical Examiner’s Office June 26, 2023.
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New York City Mayor Eric Adams according to reports vow to correct his annual financial disclosure form He filed a complaint with the Conflict of Interest Committee for failing to report his cryptocurrency holdings.
Asked if he owns securities such as stocks, bonds, ETFs, mutual funds, and cryptocurrencies with a market value of $1,000 or more, the mayor said “no” in the filing. A spokesperson for the mayor told the Daily News on Thursday that Adams had withdrawn from Bitcoin and Bitcoin shares. etherBecause he misunderstood the question and believed it only referred to securities.
Two of the mayor’s aides have both revealed their exact holdings in Bitcoin and Ether.
The mayor’s office did not immediately respond to CNBC’s after-hours request for comment. It’s unclear how much Adams’ crypto holdings are worth.
The mayor immediately accepted virtual currency back in 2021 When he had just won the election, Bitcoin It was racing toward an all-time high of nearly $70,000 per coin. Since then, the world’s largest cryptocurrency has fallen to trade near $31,500 amid a widespread slump in digital asset markets.
November 2021Adams said he will receive his first three mayoral salaries in Bitcoin. Even if the sector hits rock bottom, crypto winter Even in 2022, Adams remains bullish on cryptocurrencies. tell the press He continued to invest in cryptocurrencies.
Adams’ crypto-promoting platform was part of a politician’s effort to leapfrog Miami as one of the nation’s leading destinations for industry enthusiasts.
Miami Mayor Francis Suarez’s progressive crypto policies have drawn startups, ventures and cryptocurrency exchanges to Florida during the pandemic. Meanwhile, New York legislators have enacted some of the country’s strictest and most restrictive rules regarding the cryptocurrency industry.
In a similar revelation by Suarez, the mayor of Miami reported: Holding crypto assets By the end of 2022, the total was $71,321, according to documents obtained by the Miami Herald through the county elections office. Suarez, who receives his salary in Bitcoin using Jack Mullers’ Strike Wallet, also doubled his net worth to $3.4 million last year.
Suárez earns $130,000 a year, so it’s unclear whether he has converted some of his crypto holdings into fiat money or whether the bear market has reduced his mayoral income. CNBC reached out to Suarez’s team, but did not receive an immediate response.
