New York City Mayor Eric Adams appointed two crypto industry leaders as advisors a few weeks after the US Department. justice Under President Donald Trump He dropped a famous corruption case against him.
Move Adams set a new focus on digital finance and economic innovation that is working to reposition his administration a few months after legal scrutiny.
Adams’s name Crypto Advisors announces NYC’s first digital finance summit
Speaking at a press conference held at Gracie Mansion on May 12, Adams tapped two new advisors, including June OU, the founder of blockchain-focused corporate figures, and high-tech investor Richie Hecker.D TrAction and Scale CEO.
The two will help the city consider how it uses cryptocurrency, blockchain, and Web3 technology.
“We’re focusing on the long-term value of these technologies for our city and its people, rather than following memes and trends,” Adams said.n crYpto, blockchain, web3, or fintech space.
Adams has a bullish history with code. When he was elected mayor in 2022, he promised to accept his first three paychecks in Bitcoin.
At the time, he said, “A lot of people laughed at me, and all I can say is who’s laughing right now.” He said, reflecting his words from December. He said the industry is growing now, and the number of crypto and blockchain startups that have made New York City home has since surged.
His 2023 financial disclosures suggested he would be worth the second half of 2024, but revealed that he owned Bitcoin, which ranged between $5,000 and $54,999.
The mayor also revealed that the city’s first crypto summit will be held on May 20, just two months after President Donald Trump held a similar event at the White House. The goal is to bring together innovators, investors and policymakers to shape the future of NYC’s digital finance.
Adams pointed out that New York has emerged as a serious candidate for California’s Silicon Valley in crypto innovation. He also touted the possibility of expanding the financial inclusion of blockchain technology, particularly for communities historically excluded from the traditional financial system.
Adams’ code push follows surprise firing in federal corruption case
The Adams crypto announcement came days after the major legal cloud was lifted. The federal corruption case against him was officially dismissed in April. The charges relating to the illegal donations he allegedly received from the Turkish government have been followed for several months.
But to many people’s surprise, the US Department of Justice reportedly rejected the case at the request of Trump-appointed officials. It was dismissed “defense” and banned it from being reopened.
Court documents revealed serious questions about how the cases were handled. US District Judge Dale Ho is fired “The bargain Smack” Between Adams and federal authorities. He suggested that concessions on immigration policy could have influenced the decision.
The controversy against the mayor continued, Adams denied committing the crime and no charges against him have been filed so far.
DOJ under Trump shuts down Adams’ corruption case
Adams met President Donald Trump at the White House on May 9th. He thanked Trump for his support in the 2024 campaign. The meeting happened just days before Adams announced his crypto advisor, sparking buzz over the content of his meeting with Trump.
Some critics suspect that the denial of the lawsuit has something to do with a change in political attitude on the part of the mayor.
Adams, a Democrat, has recently become more closely connected with Trump on a variety of topics, particularly immigration and police. He ran for elections as an independent and banged the Democrats.
The mayor has denied Quid Pro Quo and claims the meeting is a “policy dialogue.” but Timing has fueled speculation. Why are you announcing a new Crypto advisor a few days after meeting Trump, weeks after the corruption incident was abolished?
When asked if there was any connection between the events, the mayor’s office did not respond.
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