NYC mayor Eric Adams did not report crypto holdings in disclosure form
NYC mayor Eric Adams did not report crypto holdings in disclosure form

New York City Mayor Eric Adams arrives for a news conference on gun violence at the New York City Chief Medical Examiner’s Office June 26, 2023.

Michael Santiago | Michael M. SantiagoGetty Images

New York City Mayor Eric Adams It is reported that there are promise to correct his annual financial disclosure form Submitted to the conflict of interest committee after failing to report its cryptocurrency holdings.

Asked if he held any securities, including stocks, bonds, ETFs, mutual funds or cryptocurrencies with a market cap of $1,000 or more, the mayor answered “no” in the filing. A spokesman for the mayor told The Daily News on Thursday that Adams ignored his stake in Bitcoin, etherbecause he misunderstood the question thinking it referred only to securities.

Both top aides to the mayor revealed the exact amount of bitcoin and ether they hold.

The mayor’s office did not immediately respond to CNBC’s request for comment outside business hours. It’s unclear how much Adams’ cryptocurrency holdings are worth.

Back in 2021, the mayor was quick to embrace cryptocurrencies after winning the election. bitcoin Heading towards an all-time high of nearly $70,000 per coin. Since then, the world’s largest cryptocurrency has dropped to around $31,500 amid a general downturn in digital asset markets.

November 2021Adams said he plans to accept bitcoin for the first three mayor salaries. Adams remains bullish on cryptocurrencies even as the industry plunges into the abyss of a crypto winter in 2022, tell the media He kept his investment in cryptocurrencies.

Adams’ support for the cryptocurrency platform is part of the politician’s efforts to make Miami one of the top destinations in the U.S. for industry enthusiasts.

Miami Mayor Francis Suarez’s progressive cryptocurrency policies have attracted startups, venture capital firms and cryptocurrency exchanges to Florida during the pandemic. Meanwhile, New York lawmakers have enacted some of the country’s most stringent and restrictive rules for the crypto industry.

Miami mayor says in similar disclosure to Suarez encrypted assets Election costs will total $71,321 by the end of 2022, according to documents obtained by the Miami Herald through the county’s department of elections. Suarez, who receives wages in bitcoin using Jack Mallers’ Strike wallet, also doubled his net worth to $3.4 million last year.

It is unclear whether Suarez converted some of his cryptocurrency holdings into fiat cash because of his annual salary of $130,000, or if his mayoral income was reduced by bear market pricing. CNBC reached out to Suarez’s team but did not immediately hear back.

NYC Mayor-Elect Eric Adams Vows to Pay His First Three Salaries in Bitcoin

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