Mayor Adams is betting on crypto. Skeptics are hedging

Singapore News News

Mayor Adams is betting on crypto. Skeptics are hedging
Singapore Latest News,Singapore Headlines
  • 📰 Gothamist
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 53%

Mayor Adams, who has raised at least $200K from donors engaged in crypto activity between 2018 and 2021, has latched onto crypto's promise of being a financial equalizer. Skeptics warn against the industry pushing legal and ethical boundaries. Read more:

“It fits the persona he’s trying to create,” said Hank Sheinkopf, a veteran political consultant. “He is the mayor of new versus old, of swagger versus complacency.”

Critics, led by U.S. Sen. Elizabeth Warren of Massachusetts, have warned that the industry is vulnerable to fraud and called out the massive energy required by most blockchains to verify the transactions — a process known as crypto mining that awards digital currency to those that perform verifications.

In New York’s Finger Lakes region, environmentalists have spent more than a year protesting a natural gas plant that powers a bitcoin mining operation with“Why New York wants to allow this type of mining to continue is very sad to see,” Williams said in an interview.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Gothamist /  🏆 456. in US

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

1st 'Safe Haven' facility opens to mixed criticism of Mayor Adams' approach to homelessness1st 'Safe Haven' facility opens to mixed criticism of Mayor Adams' approach to homelessnessCity officials claim this facility is a new approach to getting people off the streets. Instead of just warehousing the vulnerable in shelters, this provides care with dignity.
Read more »

Um, Why Was Cara Delevingne Partying With Mayor Eric Adams?Um, Why Was Cara Delevingne Partying With Mayor Eric Adams?She was dancing with a bottle of prosecco and he was … also there.
Read more »

Mayor Eric Adams signs law extending rent stabilizationMayor Eric Adams signs law extending rent stabilizationMayor Eric Adams signed a bill into law impacting more than one million rent stabilized apartments across New York City.
Read more »

Mayor Adams says combatting homeless problem in NYC will take patience, timeMayor Adams says combatting homeless problem in NYC will take patience, timeMayor Eric Adams announced that 239 homeless encampments had been cleaned up across New York City so far.
Read more »

Cara Delevingne Partied With... NYC Mayor Eric Adams?Cara Delevingne Partied With... NYC Mayor Eric Adams?He was right by her side as she chugged a bottle of champagne and enjoyed a performance by A$AP Rocky.
Read more »

Mayor Eric Adams to unveil plan to combat NYC homelessnessMayor Eric Adams to unveil plan to combat NYC homelessnessMayor Eric Adams is expected to reveal more of his plan to combat street homelessness today at City Hall.
Read more »



Render Time: 2025-03-12 23:35:08