NYC Mayor Eric Adams doubles down on cryptocurrency despite industry implosion

  • 📰 Gothamist
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 53%

Belgique Nouvelles Nouvelles

One of the world’s largest cryptocurrency exchanges recently imploded and crypto investors have suffered trillion dollar losses. But New York City Mayor Eric Adams is showing no signs of retreating from the industry, saying it is one 'we must embrace.'

future of commerce“These industries are not going to go away because they reached a low point,” he said Tuesday during an unrelated press conference. “This is an industry that we must embrace.”

“Cryptocurrency is a self-assembled Ponzi scheme made up of Ponzi schemes, stock frauds and other financial scams,” said Nicholas Weaver, a computer scientist at the University of California at Berkeley who has been an outspoken critic of the industry. Adams, who studied to be a computer programmer, was an early crypto booster. After winning the general election last year, heto attend the Somos conference, an annual political networking event, in Puerto Rico. As mayor, he elected to have his first three paychecks converted into bitcoin and ethereum, two popular cryptocurrencies.

That the mayor would invest time in trying to find applications for crypto suggested a real opportunity cost to taxpayers, according to Kaehny. “You’re not spending time on real immediate problems,” he said.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

'Yeeted into the sun' - awesome turn of phrase!

All of us in NY know he's a phony.

and it's his pursuing crap like this that lost 4 house seats

jonorcutt Dusting this classic from TheOnion

Explain to me like I’m a 5th grader how this guy was elected?

He had to know something. He sit among the elite 🤷🏾‍♀️

This man never met a money laundering scheme he didn’t like

blockchain technology does have legs, regardless of what some platforms did to implode itself.

Oy

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 456. in BE

Belgique Dernières Nouvelles, Belgique Actualités