Crypto Dreams of New York’s Next Mayor Face Reality Check

New York City Mayor-elect Eric Adams is already excelling at one major aspect of the job — cheerleading — at least as far as cryptocurrency is concerned.

Since his Nov. 2 victory, Adams has been selling New York as a crypto-friendly hub. The Brooklyn borough president and former cop has the support of crypto heavyweight Mike Novogratz of Galaxy Digital. He has opened up a jokey competition with fellow crypto-enthusiast and Miami Mayor Francis Suarez; suggested schools teach cryptocurrency and its technology; pledged to explore a mechanism to allow New Yorkers to be paid in virtual currencies; and even vowed ...