Mayor Eric Adams Pledges To Make New York The ‘Crypto Capital Of The Globe’

New York Mayor Eric Adams is set to host the City’s first Crypto Summit next week to discuss mutual benefits between the city and the crypto industry.

“This is the Empire State,” Adams said at a press conference at Gracie Mansion on Monday. “We should be looking forward to building empires, particularly in the crypto space.”

Can New York Become The “Crypto Capital” Of The World?

New York Mayor Eric Adams announced that he’s hosting the city’s first-ever official crypto summit next week, which he said will bring together public officials and crypto industry innovators.

In an April press release announcing the event, Adam’s office described the summit as “coming on the heels of the White House Digital Asset Summit in March.”

“We’re going to attract world-class talent, provide opportunities for underbanked communities, and make government more user-friendly,” Adams postulated. “We are focused on the long-term values of these technologies for our city and its people, not chasing memes or trends.”

Specifically, the New York mayor mentioned the positive impact of crypto and blockchain on the city’s underbanked population, who have historically faced obstacles to traditional means of saving resources.

Adams then reaffirmed his goal of making New York City a crypto hub, saying at the press briefing that he would work with tech and crypto companies and create a friendly environment to help them succeed in the city.

“My goal remains the same as it was on day one as mayor: making New York City the crypto capital of the globe,” Adams asserted. His statements echo similar promises from President Donald Trump, who has often said he wants to make the U.S. the “crypto capital of the planet.”

Earlier this year, the Department of Justice under the Trump administration directed prosecutors in the Southern District of New York to dismiss corruption charges against Adams. The judge dismissed the charges with prejudice. Adams and Trump have been close since January, when Adams traveled to Florida to meet with the president at Mar-a-Lago. 

Adams’ History With Crypto

Eric Adams has long been a supporter of crypto assets, describing himself as crypto-friendly even before assuming office as New York mayor. Adams recalled converting his first three paychecks into Bitcoin and Ethereum, and people laughed at him for making such a move. 

“All I can say is, who’s laughing now?” he quizzed, adding. “We’re seeing how this industry is growing, and since then, the number of crypto and blockchain startups that have made New York City home has skyrocketed.”

The New York mayor, however, believes that while the crypto industry views mass adoption as inevitable, balanced regulation is needed that is strong enough to protect investors but not so stringent that it impedes innovation and growth.

“Our state should embrace the crypto and blockchain-friendly environment we have in New York City,” he quipped. “The right regulations can provide safety, but overregulation could hurt the industry — and we don’t want that.”

Meanwhile, Adams is currently running for reelection in the 2025 mayoral election.