New York City Mayor Receives First Cryptocurrency Paycheck Despite Falling Rates


The new mayor of New York, Eric Adams, did not abandon his promise to receive a salary in bitcoins and Ethereum, even in the midst of a fall in the global cryptocurrency market. This week, the politician received the first payout, which was converted into digital currency through the Coinbase exchange.

New York City Mayor Receives First Cryptocurrency Paycheck Despite Falling Rates

Adams, who spent 22 years with the NYPD, took office on January 1 this year. How informs The Verge, the politician’s salary is about $5.9 thousand in two weeks. It is not yet known in what proportion this amount is distributed between the two main cryptocurrencies.

Eric Adams announced that he would receive his first three crypto paychecks last November. Between him and his colleague from Miami, Francis Suarez, there was a public correspondence on Twitter: Suarez promised to receive his first salary in bitcoins, to which Adams decided to raise rates and receive the first three salaries in this form. The newly minted mayor of New York has promised to turn his city into the center of the cryptocurrency industry.

This happened shortly before the price of bitcoin reached an all-time high of $69,000. Now the price of the largest digital currency by capitalization has almost halved relative to the maximum.

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Source: RB.RU by rb.ru.

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