{"id":8740,"date":"2022-11-24T08:24:53","date_gmt":"2022-11-24T08:24:53","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=8740"},"modified":"2022-11-24T08:24:54","modified_gmt":"2022-11-24T08:24:54","slug":"nyc-mayor-undeterred-by-ftx-collapse-insists-crypto-is-an-industry-we-must-embrace","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=8740","title":{"rendered":"NYC Mayor Undeterred by FTX Collapse \u2014 Insists Crypto Is an Industry &#8216;We Must Embrace&#8217;"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>The mayor of New York City, Eric Adams, is not discouraged by the collapse of crypto exchange FTX and heavy market sell-offs. Noting that crypto is coming whether we like it or not, he stressed the importance of moving into this space.<\/strong><\/p>\n<h2>NYC\u2019s Mayor on FTX Collapse and the Importance of Embracing Crypto<\/h2>\n<p>New York City Mayor Eric Adams answered some questions about how the meltdown of crypto exchange FTX affects his crypto stance Tuesday at the Manhattan Family Justice Center. Adams is a big supporter of bitcoin and crypto. He converted some of his paychecks into BTC and ETH earlier this year \u201cto send a message that New York City is open to technology.\u201d<\/p>\n<p>The mayor was asked if he has any regrets about supporting bitcoin and whether New York City should continue to promote the crypto industry.<\/p>\n<p>\u201cWell, first I believe in technology \u2014 the whole thought of using crypto, blockchain currency, you call it cyber wallets,\u201d he replied, elaborating:<\/p>\n<p>We need to move into this space. This space is coming whether we like it or not.<\/p>\n<p>\u201cWhen I hear people say, \u2018Well, look how much money an individual lost in cryptocurrency,\u2019 you know how much money I lost in the stock market? Some of my retirement investments I\u2019m afraid to even look at nowadays,\u201d Adams shared.<\/p>\n<p>\u201cAll of these industries have ups and downs,\u201d the NYC mayor described. \u201cThe \u2018junk bond kings,\u2019 the fraud that they did in the stock market and penny bonds, so there\u2019s always people who are going to exploit these forms of industries.\u201d<\/p>\n<p>The mayor of New York City continued: \u201cI believe in the new markets and the new currencies, and I\u2019m encouraging my young people to learn about them. We had a crypto summit that was partnered with the owners of the New York Nets where we brought young people in to learn about these industries.\u201d He opined:<\/p>\n<p>These industries are not going to go away because they reach low points. This is an industry that we must embrace, and I\u2019m looking to further lean into blockchain and other technologies.<\/p>\n<p>Mayor Adams said in January that he wants New York City \u201cto be the center of cryptocurrency and other financial innovations.\u201d He emphasized: \u201cBeing on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe.\u201d<\/p>\n<p><em><strong>What do you think about the comments by New York City Mayor Eric Adams? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/nyc-mayor-undeterred-by-ftx-collapse-insists-crypto-is-an-industry-we-must-embrace\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mayor of New York City, Eric Adams, is not discouraged by the collapse of crypto exchange FTX and heavy market sell-offs. Noting that crypto is coming whether we like it or not, he stressed the importance of moving into this space. NYC\u2019s Mayor on FTX Collapse and the Importance of Embracing Crypto New York [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-8740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8740"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8740\/revisions"}],"predecessor-version":[{"id":8742,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/8740\/revisions\/8742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/8741"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}