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

by Kevin Helms
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.

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.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Farmville Creator Zynga to Launch NFT Games, Says Gaming Firm’s Blockchain Lead
American social game developer Zynga has plans to launch non-fungible token (NFT) games in the near future. Zynga’s vice president of blockchain, ​​Matt Wolf, told the press that the company is looking at the cycle right now and “figuring out … read more.
Topps Plans to Auction Rare 1952 Mickey Mantle NFT Card Minted on Ethereum
The American firm that produces Bazooka chewing gum, candy, and collectibles, Topps has announced the company is planning to auction one of the rarest baseball cards on earth in NFT form — Topps 1952 Mickey Mantle card. The Topps 1 … read more.

Check all the news here