On Friday, Adams received his first paycheck as New York’s highest official. The Mayor converted his earnings into Bitcoin and Ether via the largest cryptocurrency exchange Coinbase. Adams has promised to do the same with his first three paychecks in November.
The mayor was paid in US dollars, which he then converted into crypto before depositing them into his account. The extra step of converting is due to a labor regulation that does not allow New York City to pay its employees in digital assets.
“I’m excited about the future of the city and I’m excited about bringing my young people who have been historically denied access to new technology,” he told CNN.
