Barely a day after his election last week as New York City's new mayor, Eric Adams tweeted, "In New York we always go big, so I'm going to take my first THREE paychecks in Bitcoin." He was responding to a similar declaration from Miami mayor Francis Suarez, who has been trying to appeal to technology investors and entrepreneurs for the better part of a year.
This may have seemed out of touch to voters who care more about bread-and-butter issues (or worse, like a cheap appeal for donations from newly minted crypto millionaires and billionaires). But put those judgments aside and it's clear that cities and the crypto community both have a lot to gain from a closer relationship—financially, politically, and even philosophically.
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