NYC Mayor Headlines Miami Cryptocurrency Event

The New York Daily News reports:

Mayor Adams waxed poetic about cryptocurrencies during a visit to Miami on Tuesday, touting the non-government-backed currencies as an antidote to “historical inequalities” in the U.S. economy. Adams, a vocal crypto booster who promised last year to convert his first three City Hall paychecks into Bitcoin and Ethereum, offered the effusive praise while attending a cryptocurrency conference at a swanky Miami hotel.

“When you go to the floor of the Amazon, you see all those trees and plants that have died,” he said. “But the death of something is not really the destruction of energy — energy can never be destroyed, and when you see the death of the way we are doing things, you see that it’s bringing life to what we can do.” Critics counter that the unregulated nature of the new currency system is actually a threat to economic equality.

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Miami has been at the forefront of crypto — even launching its own currency, “MiamiCoin” — and Adams drew a long, curious comparison to the Amazon Rainforest. @C_Sommerfeldt

But one expert told us: “The entire sector is rife with fraud and corruption.”https://t.co/V4UErlVCwR

— New York Daily News (@NYDailyNews) March 16, 2022