TOP News

US: NYC Mayor-elect to take first 3 paychecks in bitcoin

WATCH LIVE: NYC mayoral candidates Eric Adams vs. Curtis Sliwa in last debate before Election Day

  WATCH LIVE: NYC mayoral candidates Eric Adams vs. Curtis Sliwa in last debate before Election Day The Brooklyn borough president and founder of the Guardian Angels face off for the final time on WABC-TV in midtown Manhattan.After months of campaigning, New York City’s main mayoral candidates, Eric Adams and Curtis Sliwa, are set to tangle in the second and final mayoral debate before the general election on Nov. 2.

New York City’s new mayor may not have to go to City Hall to pick up his paycheck.

  NYC Mayor-elect to take first 3 paychecks in bitcoin © Provided by NBC News

Mayor-elect Eric Adams said Thursday that he will take his first three paychecks in the cryptocurrency bitcoin, though it's not immediately clear if the city has the ability to pay salaries in bitcoin.

Adams, a Democrat who cruised to victory Tuesday over Republican Curtis Sliwa, made the announcement on Twitter in a response to a question posed by bitcoin enthusiast Anthony Pompliano.

“It is time. Who is going to be the first American politician to accept their salary in bitcoin?” Pompliano asked.

Beyond Bitcoin: 5 Cryptocurrencies You Should Know

Beyond Bitcoin: 5 Cryptocurrencies You Should Know Ever since we have seen digital currencies in the market, you could find an exciting journey. We could see a good rush of investors coming on the digital currency bandwagon. Their volumes are increasing, and they are now enjoying the fruits of digital currencies. Think of cryptos, and we have options like Bitcoin to be on the top. Not many thinks beyond Bitcoin as they find it worthy. There are no two thoughts about the fact; however, this coin is not for all as it is costly and beyond many.

Miami Mayor Francis Suarez responded Tuesday by saying that he would take his next paycheck in bitcoin. Adams followed suit on Thursday.

“In New York we always go big, so I’m going to take my first THREE paychecks in bitcoin when I become mayor,” Adams wrote. “NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!”

The New York City Office of Payment Administration did not immediately return a request for comment on whether the city is able to issue paychecks in bitcoin.

Unlike his Democratic primary opponent, Andrew Yang, Adams, a former police officer who was elected Brooklyn Borough in 2014, did not make cryptocurrency a part of his campaign for mayor.

But in an interview with Bloomberg Radio on Wednesday, Adams praised Suarez, saying: “He has a MiamiCoin that is doing very well. We’re going to look in the direction to carry that out.”

Minneapolis mayor faces voters with policing on their minds

  Minneapolis mayor faces voters with policing on their minds MINNEAPOLIS (AP) — Minneapolis Mayor Jacob Frey was the face of the city through some of its darkest days — the death of George Floyd under an officer's knee last year and rioting that marred the ensuing protests, including the burning of a police precinct after Frey ordered officers to abandon it. Frey, a Democrat, is now in a tough fight to keep his job as the city tries to rebuild since Floyd's death in May 2020 sparked the most damaging unrest in the U.S. since the Rodney King riots. Tuesday's election will likely turn on how voters view Frey's efforts to find a middle road in a city sharply divided by questions on racism, policing and crime.

MiamiCoin is the city’s own cryptocurrency and is meant to provide a dual revenue stream spilt between the city itself and the owner of the coin. It was created in partnership with the group CityCoin.

Adams also spoke about hopes for incorporating cryptocurrency into New York’s economy and creating a talent pipeline for jobs in the field.

El Salvador became the first country to adopt bitcoin as legal tender in September, but its rollout has hit a series of snags, especially because around half the country does not have internet access.

Still, one month after launch, 12 percent of the nation's consumers have used the cryptocurrency, the Salvadoran Foundation for Economic and Social Development said.

With fewer young parishioners carrying cash, more churches accept bitcoin in their offerings plates .
Digital currency became mainstream during the pandemic. Now it's changing the ways Americans make offerings at church.They are told from the pulpit to give first, save second and live off the rest of their incomes.

See also