Newly sworn-in New York City Mayor Zohran Mamdani delivered a stark message to financial speculators on Tuesday, announcing that his administration would completely pivot away from the cryptocurrency initiatives championed by his predecessor, Eric Adams. Speaking at his first major press conference, Mamdani confirmed unequivocally that he personally holds “zero cryptocurrency assets” and has no plans to engage in digital asset speculation while in office. His remarks specifically targeted the controversial “NYC Token” project—a highly speculative, city-branded asset often mocked as “Adams’ memecoin.” Mayor Mamdani stated, “The financial health of this city must be built on tangible stability, not volatile speculation. We are here to fund affordable housing and education, not generate buzz for digital gambling schemes.” He confirmed that all resources previously allocated to exploring blockchain-based municipal tokens would be immediately redirected to traditional budgetary concerns. The move marks a definitive end to the crypto-forward approach that defined the Adams years, signaling a return to traditional financial oversight focused on accessible banking and regulatory protection for working-class New Yorkers.
Source: New NYC Mayor Mamdani says he holds no crypto, will not buy Adams’ memecoin



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