NYC Mayor Eric Adams to receive first paycheck in cryptocurrency via Coinbase

– New York City Mayor Eric Adams on Thursday said his first paycheck, to arrive Friday, will be automatically converted into cryptocurrency via Coinbase Global Inc.

The salary will be converted to Ethereum and Bitcoin, the statement added.

The mayor last year said he would take his first three paychecks in bitcoin and signaled his intention to make his city the “center of the cryptocurrency industry”.

(Reporting by Mrinmay Dey in Bengaluru; Editing by Chizu Nomiyama)