Seeking Alpha 2022-01-20 16:12:19

New York City mayor to get first paycheck in bitcoin, ethereum through Coinbase: Bloomberg

In an effort to embrace the adoption of digital assets, New York City Mayor Eric Adams' first paycheck will be converted to cryptocurrencies bitcoin (BTC-USD) and ethereum (ETH-USD), Bloomberg reports. Adams' paycheck, which arrives on Friday, will be converted into crypto through digital asset exchange Coinbase Global (NASDAQ:COIN). Meanwhile, he says NYC cannot pay employees directly in crypto due to U.S. Department of Labor regulations, Bloomberg notes. “New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations,” Bloomberg cites Adams' statement. Both bitcoin (BTC-USD +3.1%) and ether (ETH-USD +4.8%), the two largest cryptos by market cap, catch a bid intra-day. Previously, (Nov. 4, 2021) Eric Adams said his first three paychecks will be in bitcoin.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.
Helpful Resources: AWDSportsCars.com | GardenGay.com | MoviesNTVSeries.com | MuzicFanatic.com