New York’s wealthiest parasites are freaking our that their money can’t always buy elections.

As reported in The New York Times, Manhattan’s premiere collection of real estate vampires gathered for an emergency pearl-clutching session at the Seagram Building’s Pool Room for an emergency planning meeting on how to ensure disgraced-governor-turned-desperate-candidate Andrew Cuomo wins the mayoral race over Zohran Mamdani, who is currently crushing Cuomo in the polls.

Developer billionaire Jeff Blau sent out a fear-soaked email blast dripping with flop sweat: “Sorry for the late notice, but there is no more time for delay, discussion, or dithering — we must act decisively to ensure that the next mayor of New York is Andrew Cuomo. The only viable candidate with the experience, support and gravitas to defeat Zohran Mamdani is Governor Andrew Cuomo. We cannot afford hesitation,” the email read. “Every one of us must get involved immediately. We cannot afford hesitation. Every one of us must get involved immediately. The time to act is now. If we fail to mobilize, the financial capital of the world risks being handed over to a socialist this November. We cannot — and will not — let that happen,” warned the email.

The Times reports that “In addition to the Blaus, the invitation was signed by, among others, a co-owner of the Seagram Building, Aby Rosen; the billionaire philanthropist Laurie M. Tisch; and the hedge fund billionaire Gregg Hymowitz.”

Meanwhile, current Mayor Eric Adams is polling at a robust 9% while allegedly shopping for a Saudi ambassadorship.

Previously:
• Mamdani more popular with NYC conservatives than Cuomo and Adams
• Video celebrates Mamdani’s historic win and claps back at racial microaggressions
• Mamdani overwhelms Cuomo in NYC primary
• Mamdani won more votes in round 1 than Cuomo received in every round

Zohran Mamdani, the 33-year-old Democratic Socialist from Queens, surged to a convincing win over former governor Andrew Cuomo in New York City’s Democratic primary election. 44% of Democrats chose Mamdani as their first pick in the ranked-choice vote, enough to make victory all but certain. Cuomo, who conceded early and called Mamdani to congratulate him, won 36% of first-pick votes. City financial officer Brad Lander trailed at 11%, with Adrienne Adams on 4%.

Cuomo has suggested he may run as an independent in November’s mayoral election irrespective of whether Democrats nominated him. But the unexpected margin of Mamdani’s victory suggests a more united party than political pundits hoped for.

The former governor’s loss marks the “biggest upset in modern NYC history,” Trip Yang, a political strategist, told the BBC.

“A massive win for Zohran Mamdani that shows that when Donald Trump is President, New York Democrats want to see their leaders fight with enthusiasm and courage, and that’s what Zohran showed voters.”

Cuomo resigned from the governorship in disgrace after admitting inappropriate conduct with multiple staffers, but was nonetheless the “establishment favorite,” as the BBC put it. His cruise to a comeback nomination was capsized by Mamdani’s energetic and approachable campaign, which eventually cut into Cuomo’s early polling lead. The gap had evaporated by the last week of the race and now appears to have been something of a mirage.

Mamdani’s platform includes free public buses, universal childcare, freezing rent in subsidised units, and city-run grocery stores – all paid for by new taxes on the rich. “This is a city where one in four of its people are living in poverty, a city where 500,000 kids go to sleep hungry every night,” he told the BBC at a recent event.

“And ultimately, it’s a city that is in danger of losing that which it makes it so special.”

Pakistan Minister of State for Crypto and Blockchain Bilal Bin Saqib is likely looking to collaborate with Wall Street.

A June 6 X post by the Pakistan Crypto Council shows that Saqib met with Brandon Lutnick, the chairman and CEO of Cantor Fitzgerald, a global financial services firm. A separate video included in a separate post shows that he also met with New York City Mayor Eric Adams, who recently said he will ensure a Bitcoin bond is launched in the city. The post reads:

“New York is Lahore.”

The meeting with Lutnick follows his firm’s recently increased interest in crypto. The two reportedly discussed “tokenization, Bitcoin mining, Pakistan’s Web3 future and avenues of collaboration.”

Cantor Fitzgerald is a global financial powerhouse founded in 1945 with headquarters in New York, focused on investment banking, fixed income, equities, real estate, SPACs and financial technology. The firm’s website notes that its investment arm manages about $14.8 billion in assets.

Related: Pakistan’s crypto envoy courts Wall Street allies

Wall Street giant Cantor deepens crypto ties

The report followed news from late April that Brandon Lutnick was reportedly partnering with SoftBank, Tether and Bitfinex to create a $3 billion crypto acquisition company. In late 2024, the firm was also reported to own a 5% stake in stablecoin issuer Tether.

More recently, Cantor Fitzgerald has also partnered with Anchorage Digital and Copper, relying on them as its Bitcoin custodians and collateral managers as it launches its new digital asset financing business, targeting institutional investors.

Related: Trump-backed World Liberty Financial partners with Pakistan Crypto Council

Pakistan’s crypto friendship with the US

The announcements follow Saqib’s meeting with Robert “Bo” Hines, executive director of US President Donald Trump’s Council on Digital Assets, during a visit to the White House earlier this week. The meeting focused on cryptocurrency initiative cooperation between Pakistan and the US, including potential partnerships and future decentralized finance initiatives.

In late May, Saqib also revealed that Pakistan is moving to establish a strategic Bitcoin reserve. This marked a shift in the country’s stance that crypto would never be legal.

Saqib was appointed by Pakistan Prime Minister Shehbaz Sharif in late May as his special assistant on blockchain and crypto. That announcement came shortly after Pakistan allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.

Magazine: US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow

]]> https://earlybirdsinvest.com/pakistans-crypto-minister-joins-nyc-mayor-wall-street-in-bitcoin-talks/feed/ 0 40439 https://earlybirdsinvest.com/nyc-comptroller-rejects-mayor-adamss-bitbond-proposal-as-legally-and-fiscally-flawed/ https://earlybirdsinvest.com/nyc-comptroller-rejects-mayor-adamss-bitbond-proposal-as-legally-and-fiscally-flawed/#respond Sat, 31 May 2025 02:30:59 +0000 https://earlybirdsinvest.com/nyc-comptroller-rejects-mayor-adamss-bitbond-proposal-as-legally-and-fiscally-flawed/

New York City Comptroller Brad Lander has rejected Mayor Eric Adams’s proposal to issue municipal bonds backed by Bitcoin, calling the idea both “legally dubious and fiscally irresponsible.”

Lander, who shares responsibility for the city’s debt issuance alongside the Mayor’s Office of Management and Budget, made clear that the city will not pursue any crypto-backed borrowing while he remains in office.

Bitbond Battle Brews in NYC as Election Rivals Clash Over Crypto Policy

Lander said in a statement on Thursday that “Cryptocurrencies are not sufficiently stable to finance our city’s infrastructure, affordable housing, or schools,” according to a report by Bloomberg.

He added, “Proposing that New York City should open its capital planning to crypto could expose our city to new risks and erode bond buyers’ trust in our city.”

The response follows remarks made by Mayor Adams on Wednesday during his speech at the Bitcoin 2025 conference in Las Vegas.

Addressing a crowd of crypto enthusiasts, Adams called for the creation of a “Bitbond,” expressing his intention to make New York a national leader in crypto innovation.

“We need to have a Bitbond, and I’m going to push and fight to get a Bitbond in New York,” Adams said. “If it grows in New York, it will cascade through the entire country.”

The mayor’s comments come just a week after he hosted the city’s first crypto and digital assets summit at Gracie Mansion. There, he unveiled a digital assets advisory council designed to boost fintech investment and job creation in the city.

But Lander pushed back hard on the idea. He pointed to legal and regulatory constraints that limit how municipal bonds can be issued and used. According to him, the city can only issue debt for specific public purposes and must do so in compliance with federal tax law.

“The current federal tax law regime would most likely neither permit tax-exempt financing for acquiring cryptocurrency nor permit investment gains in excess of the federally subsidized financing costs,” Lander said.

He also emphasized that the city does not have any system in place to handle infrastructure financing in cryptocurrencies or to convert digital assets into U.S. dollars.

Adams, who is seeking re-election this November as an independent, did not respond to requests for comment.

Lander, a Democrat and a candidate for mayor himself, made clear that under his watch, Bitcoin-backed bonds won’t be part of the city’s fiscal strategy.

With both candidates positioning themselves for November, the clash over crypto policy could become a defining issue in the race.

Mayor Echoes Trump’s Crypto Playbook Amid Growing Political Embrace of Digital Assets

Mayor Adams is doubling down on crypto as part of his re-election campaign, echoing Donald Trump’s strategy from last year when Trump vowed to make the U.S. the “crypto capital of the world.”

Trump’s actions included issuing an executive order to create a digital asset task force and hosting the White House’s first crypto summit in March with top industry executives.

Adams, recently cleared of corruption charges by the DOJ, a move that sparked backlash and resignations, has now become a prominent face at crypto events.

In Las Vegas, he spoke at the industry’s largest conference alongside figures like VP J.D. Vance and Senator Cynthia Lummis. These events, once dominated by industry leaders, now increasingly feature political figures.

At a side event hosted by Tether co-founder Brock Pierce, Adams appeared again, showing a long-standing relationship dating back to his Brooklyn days. Last fall, Pierce even co-hosted a fundraiser for him in Puerto Rico.

Adams has championed crypto since his 2022 mayoral campaign, famously converting his first three paychecks into Bitcoin and Ethereum.

Now, NYC is forming a digital asset advisory council to explore launching a “Bitbond.”

A similar federal initiative, proposed by the Bitcoin Policy Institute, suggests bonds partly backed by Bitcoin for a potential strategic reserve.

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