NYC's mayor invests first paycheck in cryptocurrency

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New York City's new mayor, Eric Adams, plans to convert his first paycheck this week into two cryptocurrencies, Ethereum and Bitcoin. He has been hyping cryptocurrency as a potential economic engine for the city.

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New York City Comptroller Brad Lander, whose office oversees public pension funds, said the city’s retirement systems have no plans to invest in digital currencies. “It’s no different than taking the proceeds of his regular paycheck and just buying Bitcoin for himself,” Yermack said in an email. “It’s about showing allegiance to this industry, it’s about saying that we want the industry to feel welcome and may be to bring jobs,” she said.

 

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This is a ‘make your dollar worth nothing’ scheme by the wealthy.

Who is this guy and did New Yorkers know his unorthodox thinking before hand? So far he’s more right than left so it seems.

Great timing!

today 1 ethereum is abt 3k$, and 1 bitcoin is abt 40k$. and there are myriads of ppl in nyc who earn 15$/hour, and work 3 jobs to make ends meet... just saying...

Good idea. There’s a treasure chest of gold nuggets buried under the ice sheet at Rockefeller Center too.

Must be nice to have that much disposable income.

Gross 😃👍

waiting for his entire check to disappear cuz Elon Musk makes a bad tweet

'Then yeah, next day crypto crashed and now my salary is now less than the check.' 😂

woow nice 🤜🏻

Good luck with that.

Lol

2022 is already fuckier than last year.

So he heard from a friend who heard from a friend….this is a ridiculous waste. Kids are freezing in school but yeah lets put energy into this…smh

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