New York City Mayor Eric Adams has reaffirmed his ambition to transform the city into the world’s leading hub for cryptocurrency and blockchain innovation. Speaking at a press event on Monday, Adams announced the city’s first official crypto summit—set for May 20—and emphasized the need for smart regulation and robust public-private collaboration.
The summit follows closely on the heels of a high-profile crypto gathering at the White House, signaling growing national momentum around digital assets. Framing the summit as a pivotal step toward establishing New York’s leadership in the space, Adams spotlighted the city’s rapidly growing blockchain sector and its potential to rival traditional tech centers like Silicon Valley.
Joined by key industry voices—including Figure co-founder June Ou and Richard Hecker, CEO of Traction and Scale—Adams underlined the role of crypto in expanding financial inclusion.
“Finance is something that can impact those communities that have historically found themselves lacking in access to banks and access to ways to save their resources and dollars,” he said.
“My goal remains the same as it was on day one as mayor: making New York City the crypto capital of the globe.”
Adams Stresses Long-Term Crypto Vision Ahead of NYC Summit
Mayor Adams described the upcoming summit as a strategic opportunity to foster alignment between crypto innovators and regulatory stakeholders. Scheduled to take place at Gracie Mansion, the May 20 event will serve as a venue for what Adams called a “cross-pollination of ideas” across public and private sectors.
“The summit will bring together crypto innovators and influencers to share insights and experiences to chart our path forward,” he said.
Adams emphasized that New York’s crypto strategy is rooted in long-term value creation—not speculative hype.
“We are focused on the long-term values of these technologies for our city and its people, not chasing memes or trends, which is why we are bringing together leaders,” he noted.
The mayor also called for a regulatory framework that nurtures innovation without compromising investor protections. As the city moves closer to wider crypto adoption, Adams underscored the importance of regulatory clarity and flexibility to ensure a sustainable future for the digital economy.
Adams Courts Crypto Backing as He Eyes Independent Run
While not stated outright, Mayor Adams’ renewed crypto-forward agenda may reflect broader political ambitions—particularly a desire to attract support from crypto-aligned super PACs. These groups played a key role in Donald Trump’s 2024 election victory and could prove influential in the coming election cycle.
Adams has signaled plans to bypass the Democratic primary and run as an independent, citing ongoing fallout from a federal corruption probe involving alleged campaign contributions and luxury gifts tied to Turkish interests—allegations he has repeatedly denied.
In a controversial move, the Department of Justice under the Trump administration dropped the investigation in April, sparking internal resignations and accusations of political interference. Scrutiny intensified after Adams was seen visiting Mar-a-Lago in January, during the height of the legal controversy. At the time, reports surfaced that Trump had floated the idea of a presidential pardon.
Now, with the NYC Crypto Summit just around the corner, Adams appears to be betting that a pro-innovation, pro-crypto stance could secure him powerful allies as he lays the groundwork for his political future.
Quick Facts
- New York City’s first official Crypto Summit is scheduled for May 20 at Gracie Mansion.
- Mayor Adams reaffirmed his goal to make NYC the “crypto capital of the globe.”
- The summit will focus on long-term innovation and regulatory clarity—not hype-driven trends.
- Adams is pursuing an independent reelection bid amid fallout from a dropped federal corruption probe.
