New York crypto ambitions could be established for uncertainty after the mayor of New York City, Eric Adams, abandoned his re -election offer on Sunday.
In a video about X on Sunday, Adams cited financial struggles derived from its federal federal bribery case and the retention of public funds.
“In spite of everything we have achieved, I cannot continue my re -election campaign,” he said before adding that “the constant speculation of the media over my future and the decision of the Finance Board of the campaign to retain millions of dollars have undermined my ability to raise the necessary funds for a serious campaign.”
Initially, Adams won the office in 2022 on a public security platform during the recovery of the pandemic and has been credited with the reduction of crime and the impulse of the economy. However, its association with several scandals has been seen as a persistent responsibility.
“Although this is the end of my re -election campaign, it is not the end of my public service,” said the mayor, before adding: “I will continue to fight for this city.”
Only in America. Only in New York.
Thank you for making my story come true. pic.twitter.com/effybnitj– Eric Adams (@Aricadamsfornyc) September 28, 2025
Bitcoin’s lawyer of the Big Apple
In May, Adams spoke at a press conference to announce that New York City was “open for business” for cryptographic companies.
Later in the same month, he said that he would create a digital advisory council to attract jobs and investments to the Big Apple and position it as the “capital of the globe.”
“The era of tokenization, which includes crypto and blockchain and other Fintech innovations, that age is here, and we will continue with it,” he said at that time.
Related: The Mayor of New York establishes crypto plans
He also asked for a Bitcoin bonus that was launched in the city and renewed calls to ax the strict Bitlican program of New York.
However, the Comptroller of New York City, Brad Lander, rejected the proposal, claiming that it was “legally and fiscally irresponsible.”
No Pro-Crypto replacements
Adams, currently surveyed in fourth place, faced a growing pressure from business leaders who also oppose the person who opposes the favorite Zohran Mamdani, a democratic socialist assemblyman.
Mamdani still has to clarify its position on cryptography, but the industry seems worried that its progressive/socialist approach can be hostile to the digital asset industry.
The Democrat Andrew Cuomo is the second in the race and has a mixed but generally more regulatory approach for cryptography. Cuomo previously worked as an advisor paid for the OKX Crypto Exchange while trying a federal investigation.
Adams previously criticized former governor Cuomo, stating that under his governorate, the state of New York “dismantled and destroyed” the cryptographic industry. “
Mamdani currently leads Cuomo in 84.6% to 14.4%, according to the Polymarket prediction platform. New York City is scheduled to hold the Mayor’s elections on November 4, 2025. Adams will continue to serve as mayor until its successor assumes the position on January 1, 2026.
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