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NYC Mayor Eric Adams Converts First Paycheck to Bitcoin and Ether via Coinbase – Bitcoin News

The mayor of New York Metropolis, Eric Adams, has obtained his first paycheck in bitcoin and ether through Coinbase. “Promise made, promise stored,” the mayor mentioned, referring to his promise to take his first three paychecks in cryptocurrency.

Mayor of New York Metropolis Takes Paycheck in Cryptocurrency With the Assist of Coinbase

New York Metropolis Mayor Eric Adams has made good on his promise about getting paid in bitcoin. In a video he posted on Twitter Thursday, the mayor mentioned:

Promise made, promise stored. Took my first test in bitcoin and ethereum.

“This can be a purpose to spotlight. New York should be the middle for innovation and new concepts. I would like my younger folks to thrive in each trade,” the mayor emphasised.

The official web site of town of New York additionally introduced Thursday that Mayor Adams will “obtain [his] first paycheck in cryptocurrency.”

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The mayor’s first paycheck “will robotically be transformed into cryptocurrency through Coinbase … earlier than funds are made accessible,” the announcement particulars, including that “The wage will likely be transformed to ethereum and bitcoin.”

Mayor Adams introduced in November final 12 months that he would take his first three paychecks in bitcoin. Nevertheless, town defined:

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As a result of U.S. Division of Labor laws, New York Metropolis can not pay staff in cryptocurrency. Through the use of a cryptocurrency change, anybody paid in U.S. {dollars} can have funds transformed into cryptocurrency earlier than funds are deposited into their account.

Mayor Adams commented Thursday: “New York is the middle of the world, and we wish it to be the middle of cryptocurrency and different monetary improvements … Being on the forefront of such innovation will assist us create jobs, enhance our economic system, and proceed to be a magnet for expertise from everywhere in the globe.”

He additionally mentioned in November that he desires colleges to show crypto, noting that bitcoin is a brand new method to pay for items and providers.

Earlier this month, when the value of BTC fell to the $41K degree, the mayor mentioned, “Typically the most effective time to purchase is when issues go down, so after they return up, you’ve made a superb revenue.”

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What do you concentrate on NYC Mayor Eric Adams changing his paycheck into cryptocurrency? Tell us within the feedback part under.

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Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

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