New York City Mayor Eric Adams has Don’t be discouraged by the FTX collapse and market crash. Pointing out that cryptocurrencies are coming whether we like it or not, he emphasized the importance of getting into this space.
New York City Mayor Speaks on His FTX Collapse and Importance of Embracing Cryptocurrencies
New York City Mayor Eric Adams said the collapse of cryptocurrency exchange FTX will We answered some questions about how it will affect his stance on cryptocurrencies on Tuesday. Manhattan Family Justice Center. Adams is a strong proponent of Bitcoin and cryptocurrencies. He converted part of his salary into BTC and ETH earlier this year, “to send the message that New York City is open to technology.”
The mayor was asked if he had any regrets about supporting Bitcoin and whether New York City should continue to promote the crypto industry.
“Well, first of all I believe in technology. The whole idea of using cryptocurrency, blockchain currency, you call it a cyber wallet,” he replied, elaborating. You have:
in this space. This space will come whether we like it or not.
“When I hear people say, ‘Look how much money people have lost in cryptocurrencies,’ they know how much money I’ve lost in the stock market.” Some of my retirement investments I’m afraid to even look at these days,” Adams shared. explained. “The ‘junk bond kings’ are the scams they did with the stock market and penny bonds, and there will always be people trying to exploit these forms of industry.”
The Mayor of New York continued: We partnered with the owners of the New York Nets to host a cryptocurrency summit, inviting young people to learn about these industries. In his opinion:
These industries do not disappear just because they have reached their lowest point. This is an industry that we have to embrace and I want to lean more towards blockchain and other technologies.
Mayor Adams said in January that he wanted New York City to be a “center for cryptocurrencies and other financial innovations.” “Being at the forefront of innovation like this will help create jobs, improve the economy, and continue to attract talent from around the world.”
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