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New York City Mayor Eric Adams received his first bitcoin and ether salary through Coinbase. “The promise was made, the promise was fulfilled,” the mayor said, referring to his promise to receive his first three salaries in cryptocurrency.
New York City Mayor Gets Salary In Crypto With Help From Coinbase
New York City Mayor Eric Adams has delivered on his promise to be paid in Bitcoin. In a video he tweeted on Thursday, the mayor said:
Promised, promised. I checked Bitcoin and Ethereum for the first time.
“That’s one reason to stress. New York has to be a hub for innovation and new ideas. I want my young people to thrive in every industry,” the mayor emphasized.
The city’s official website also announced Thursday that Mayor Adams will “receive [his] The first salary in cryptocurrency. “
The mayor’s first paycheck “will be automatically converted to cryptocurrency through Coinbase…before funds are available,” the announcement detailed, adding that “the paycheck will be converted to ethereum and bitcoin.”
mayor adams Announce In November, he will receive his first three salaries in bitcoin. However, the city explained:
New York City cannot pay its employees in cryptocurrency due to regulations from the U.S. Department of Labor. By using a cryptocurrency exchange, anyone paying in U.S. dollars can convert funds to cryptocurrency before depositing funds into their account.
Mayor Adams commented on Thursday: “New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations… Being at the forefront of such innovations will help us create jobs, improve our economy, and Continue to attract talent from all over the world.”
He also said in November that he hoped Schools that teach cryptocurrency, noting that Bitcoin is a new way to pay for goods and services.
Earlier this month, when the price bitcoin fell to the $41,000 level, the mayor Say, “Sometimes the best time to buy is when the price is down, so when it comes back up, you’ve made a big profit.”
What do you think of New York City Mayor Eric Adams converting his salary to cryptocurrency? Let us know in the comments section below.
Image Source: Shutterstock, Pixabay, Wiki Commons
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